Raoul Pal Predicts Rise to $300,000 in 18 Months
Pal predicts Bitcoin to go to $300,000 in 18 months and is seemingly uber-bullish on the king of cryptocurrency
Yesterday alone, I was speaking to the founder of one of the largest investment firms in America. Investment advisors alone have $5 trillion in assets, and he’s trying to get all of his advisors and advise all the others as soon as the ETF is launched to get up to 1% of assets. I mean, that’s $500 billion from the investment advisors alone.”
However, Pal notes that not all big financial institutions are eager to jump on the Bitcoin bandwagon. The BTC advocate expects that banks will be among the last to adopt the leading cryptocurrency.
“We’ve all seen these phases. These things where ‘We’re not going to use this, this is rubbish, why do we need this? I’ve got a fax machine, why do I need email?’ Suddenly, ‘What’s a fax machine?’ Look at all these dot coms, at their mania. Next minute, it’s normal. It’s part of life and Amazon’s a trillion-dollar company.
The world goes through these phases and the more conservative people, the less risk-takers, tend to be later to the party. So I think the banks are late here because they’re going to get disrupted somewhat.”