Raoul Pal, former executive at Goldman Sachs, predicts Bitcoin will be the best-performing asset over the next decade.
According to Pal, co-founder and CEO at Real Vision, an on-demand financial TV channel where major investors share their best business ideas,
“If I could only own one asset for the next 10 years, it would be bitcoin $BTC. It encapsulates all of my larger macro views and feels like the point on the far horizon we are headed to, in some shape or form. Yes, like gold too and many other things but BTC risk/reward beats all.”
Pal has a long history with Bitcoin. He was an early investor who sold all of his holdings in June of 2017, calling BTC “a solution looking for a problem.” But in an August 2019 interview on the Stephen Livera podcast, Pal said he thinks the highly volatile and risky cryptocurrency is worth investing in even if there’s only a 1% chance it succeeds.
“I know all these macro guys, they’re all in it. They get it. They get the optionality. They may be complete believers, part believers, partial believers. But even then, if it’s a 1% chance of being right and the upside is 100x from here, you’d do this all day.”
Pal previously managed the GLG Global Macro Fund in London for GLG Partners, one of the world’s largest hedge fund groups, and ran the hedge fund sales business in equities and equity derivatives in Europe for Goldman Sachs.