Raoul Pal is "struggling not to sell Bitcoin" to buy Ethereum

Charlie Taylor

On Wednesday (21/04), former Goldman executive Sachs Raoul Pal, a major influencer in the cryptocurrency community, spoke about Bitcoin and Ethereum and concluded that "he is struggling not to sell all of his BTC" and that " ETH is the best asset allocation for performance at the moment. ”Before founding the Global Macro Investor (GMI) macroeconomic research and investment strategy service in 2005, Pal co-managed the GLG Global Macro Fund in London for the global investment firm. asset management GLG Partners. Pal also worked at Goldman Sachs, where he co-managed the hedge fund business. He is currently the CEO of the financial content analysis and production company Real Vision. On November 30, 2020, Pal revealed who was about to sell all of his holdings in gold to use the money to invest in Bitcoin and Ether. Then, on January 18, Pal provided a update on allocating your cryptocurrency portfolio:

(…) BTC and ETH. My division is now 70/30.

Now see Paul's new lines on the subject:

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"To be brutally honest, I look at the ETH / BTC chart and see a huge rounded bottom with a potentially huge breakout just above …"

When you price anything in DeFi, NFT, community tokens or even metaverse worlds, everything is basically calculated in ETH, including designers' time, etc. ETH is fast becoming the currency of the digital world and BTC is the immaculate collateral and the base layer.

“At this point in the risk cycle and with the arrival of ETH 2.0 (cheaper rates and less supply), I am struggling not to sell all of my BTC to move my entire central position to ETH. To be clear – I'm a big BTC bull, but I think ETH is the best asset allocation for performance at the moment. ”Interestingly, Peter L. Brandt, who is one of the most respected commodity traders in the world, agreed with Pal's assessment. His response to Pal was: “Raoul, I see it the same way.” According to data from Coingolive, Bitcoin has appreciated 695% in dollars during the last year, in comparison, Ether has accumulated a rise of 1,419%.Read more: Bitcoin Hashrate recovers as Chinese miners resume activity

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