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The CEO of Real Vision believes that, thanks to the attention to bitcoin from the wealth funds of central banks, the cryptocurrency market will grow significantly.
Raoul Pal stated on the MetaLearn podcast that the world is ready for a new wave of Bitcoin adoption. The former CEO of Goldman Sachs has identified three powerful catalysts that he believes will accelerate the rise of Bitcoin and other cryptocurrencies. According to him, against the backdrop of a tense geopolitical situation, states will look for ways to protect their financial reserves:
“Sovereign states, especially wealth funds, will start looking for a long-term asset that will provide some security. Therefore, bitcoin will be studied by them and we will see its further adoption – not necessarily as a currency, but as an asset. I think this is a very interesting solution – the global use of bitcoin as a kind of protective collateral reserve asset.”
The head of Real Vision is confident that a further fall in the market will have a beneficial effect on the growth of bitcoin:
“We need this so that the story of inflation does not die. It would be a real bitcoin adoption accelerator. It is important that economic growth slow down and that central banks print more money. This promotes the adoption of cryptocurrencies. Not so much increases the price, as it happens with stocks, gold and real estate, but it stimulates the adoption of bitcoin. A recession in the economy always greatly outweighs other factors. Get ready for the perfect storm.”
The macroeconomic situation suggests that the chances of another sale of bitcoin are small, says Raul Pal. Most market participants are likely to stick to a long-term strategy and not actively trade cryptocurrencies:
“Essentially, you should just buy and hold bitcoin, buy when it sells in significant volumes – because you know that the reward for risk will be growth.”
American macroeconomist Lyn Alden has a similar opinion. In March, he said that once sovereign wealth funds turn their attention to
bitcoin, the Central Bank will soon become interested in it, which significantly stimulates the growth of cryptocurrency.
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