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- Market expert, Raoul Pal has hailed crypto innovation and their growth potential.
- His accolade underscores why Ripple can outrank tech stocks like Apple.
Real Vision Chief Executive Officer (CEO) and former Goldman Sachs executive Raoul Pal has remained very positive about crypto assets for the longest possible time and has recently attempted to explain his bullish stance in a new Ask Me Anything (AMA) session on YouTube.
In his opinion, blockchain offers users an opportunity to own and operate pieces of a network.
This is not the same with other systems where people have to buy stocks of associated companies to own shares that represent only a portion of the network. Furthermore, he explained that crypto is just a technology that one can participate in.
Putting it in perspective, Raoul said in a statement;
“It is a distributed database, which is [a]blockchain, of which you can use a token to represent value on that chain. So unlike other networks, let’s say a telco network, you can’t own a share of the telco network, while [in crypto], you can with a token, which gives you a share of the network itself,” he added.
He went on to describe how blockchain enables scarcity when anything could otherwise be theoretically inflated to infinity in the midst of a burgeoning digital world. Pal believes that crypto’s market cycles can be “much bigger” than the tech stocks that they often correlate with, including Apple, Microsoft and Amazon.
With the rise of digitization, the macro investor highlighted the need to transfer, record, and store value.
Raoul Pal Sees High Returns Prospect For Crypto
Gradually, this value is also becoming digital. It is also possible to make assets in infinite abundance and everything digitally goes to zero in terms of their value. Then blockchain allows you to create scarcity in that same digital ecosystem to recreate value.
Citing Artificial Intelligence (AI), he pointed out that one would have to buy Nvidia first and at the same time these assets do not appreciate as such.
“How much money are you going to make? 2x, 3x, maybe? Can Tesla go up 5x, 6x, 8x? Yeah, sure.” However, in the case of crypto like Ripple (XRP), Bitcoin (BTC), and Ethereum (ETH), the possibility is quite high. This is because one gets to own the network itself with just a token.
Pal has never failed to express his positivity towards cryptocurrencies and their functionalities. Last month, he shared his optimism about the ability of a spot BTC Exchange Traded Fund (ETF) to trigger a rapid flood of capital to the market. He is confident that the fear of missing out (FOMO) will force investors to flock around Bitcoin and plunge in their funds in bulk.
The Real Vision CEO says that an approval from the United States Securities and Exchange Commission (SEC) for a spot BTC ETF will occur simultaneously with the bolstering positive momentum of the broad crypto market citing that momentum is important to the ETF.
