Real Vision CEO Raoul Pal Takes Bullish Stand On Ethereum
November 15 2021 - 2:30PM
NEWSBTC
Raoul Pal, CEO, and co-founder of Real Vision has taken a bullish
stance on Ethereum. Staying true to past statements, Pal reiterated
support for Ethereum, which he sees growing exponentially in the
coming years. For Pal, the growth of Ethereum in comparison to
Bitcoin is the greatest argument for its long-term success. This
has led the CEO to stand behind the leading smart contracts
platform in the crypto space. Ethereum Vs. Bitcoin Anyone in the
crypto space now knows that there is a clear line when it comes to
outperformance between the two top cryptocurrencies. Although
bitcoin has brought massive returns for its investors, it has not
done nearly as well as Ethereum in the same time frame. This has
largely driven the argument of Ethereum “flipping” bitcoin. Related
Reading | New York Mayor Says Cryptocurrencies Should Be
Taught In Schools Pal does not seem to subscribe to the school of
thought that is Ethereum flipping bitcoin but is bullish on the
latter’s long-term potential over the former. He argued the value
of Ethereum against bitcoin when the digital asset had first
launched five years ago, showing that the altcoin has performed
100x against bitcoin over its five-year lifespan. For the Bitcoin
Maxi’s: when ETH launched it was at 0.0007BTC. 6 years later, it is
at 0.07. That is 100x vs BTC over the period you called it a shit
coin. The whole Pfeffer argument of utility value goes to zero has
been proven wrong due to network effects Facts matter. 1/ — Raoul
Pal (@RaoulGMI) November 14, 2021 ETH price trading above $4,600 |
Source: ETHUSD on TradingView.com However, just because Ethereum
has performed remarkably well compared to Bitcoin does not mean
that there isn’t any potential for bitcoin. But Pal expects the
altcoin to keep outperforming bitcoin in the coming years. ETH and
BTC aren’t the same thing and that is fine. Some other token will
outperform ETH probably over time too. That is cool too. The entire
space is going up 100x from here. You can choose where you want to
be on the risk curve but it’s not even clear ETH is more risky now.
— Raoul Pal (@RaoulGMI) November 14, 2021 Bullish On ETH Pal’s
stance on Ethereum has not changed since he had first declared
investments in the digital asset. In August, Pal had placed the
value of Ethereum at $20,000 by the second quarter of 2022. This
prediction was mostly predicated on its growing use cases as the
leading smart contracts platform for decentralized finance and NFT
activities in the crypto industry, thus giving it an edge over
bitcoin which did not have much going for it besides its monetary
policy. Related Reading | Confirmed: AMC Now Accepts Bitcoin,
Ethereum, Two Other Cryptos, Dogecoin To Follow In the same vein,
Pal had placed the price of bitcoin at $250,000 in the same time
period, proving that his bullish sentiment went above just ETH’s
potential. Pal had also moved his entire investment portfolio into
cryptocurrencies in 2020, the majority of which was in Bitcoin. In
October, Pal updated his followers on Twitter that he had made the
biggest personal position of his life in ETH. In the tweet, Pal
said, “Just so we are clear – I am more than irresponsibly long ETH
right now. I now have leverage but via calls. This is by far and
away the biggest personal position of my entire life by a factor of
10 (or more). My view horizon for this part of the trade is 6 to 9
months.” Featured image from The Economic Times, chart from
TradingView.com
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