A former global macro fund manager and current author of the Global Macro Investor newsletter, Raoul Pal says that Bitcoin is still worth $100,000. The last year in October during the Bitcoin bubble reached to above $1200 as well. Some investors even claimed that the digital currency may reach above ten thousand dollars.
However, the latest claim from Raoul Pal is not just bizarre but outrageous for a lot of people who believe that he has gone overboard. Nonetheless, he seems bullish about what he thinks when he says that limited edition of Bitcoin circulation is a major reason that he believes will help the value go to exponential heights.
According to Raoul Pal he did some analysis a while ago to try and create a valuation framework that gives some value to Bitcoin because nobody really knows that it’s worth. He added that there’s a finite amount that’s been mined. The rest is underground and everyone kind of know how long it’s going to take before all the gold is mined or before all the Bitcoin.
Pal says that putting the digital currency in the same kind of equation we get a value which goes to a million dollars. Thus, according to him people will never hear an analyst say this-but he does not mind this. He says that he could be wrong by 90%; however, he still believes that the digital currency will be worth $100,000.
Buy Physically Unencumbered Gold Than Paper Gold Suggests Raoul Pal
Coming from an expert investor, the prediction cannot be taken lightly. He also brings a piece of suggestion for investors when he says that they should be careful about how they own their gold as because of the proliferation of derivatives and ETFs, gold is just the collateral to a highly-leveraged “monster.”
Nonetheless, Pal thinks that it’s best to buy physically unencumbered gold instead of paper gold. He has plenty of experience in terms of experience in managing investors’ money wherein he co-managed the GLG Global Macro Fund in London for GLG Partners, one of the largest hedge fund groups in the world.
Later on Raoul came to GLG from Goldman Sachs where he co-managed the hedge fund sales business in Equities and Equity Derivatives in Europe and retired from managing client money in 2004 at the age of 36 and now lives on the Valencian coast of Spain, from where he writes for The Global Macro Investor.
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However, the latest claim from Raoul Pal is not […]