Real vision founder and CEO Raoul Pal has made a brutally honest statement in favour of Bitcoin. He is of the opinion that apart from Bitcoin no other assets are worth investing in. To make the conclusion, he applied the economic cycle theory in a series of charts, which he posted on Twitter.
The former Goldman Sachs fund manager said that though gold has been selected as an alternative by a lot of investors, Bitcoin is the only asset in the world to offset the growth of the G4 balance sheet.
“It’s not stocks, not bonds, not commodities, not credit, not precious metals, not miners. Only one asset massively outperformed over almost any time horizon: Bitcoin.”
G4 here refers to the Bank of England, the Bank of Japan, the Federal Reserve, and the European Central Bank.
He also mentioned that his conviction level in Bitcoin is ring everyday. Adding that it might not be worth ownin g any other asset as a long-term asset allocation, but that’s a story for another day.
“My conviction levels in Bitcoin rise every day. I’m already irresponsibly long. I am now thinking it may not be even worth owning any other asset as a long-term asset allocation, but that’s a story for another day,” he said.
Furthermore, he also said that, devaluation of world currencies will cause the price of Bitcoin to rise 50x to 100x in the next five years.
At the moment the price of Bitcoin is approaching the $11,800 mark.