Raoul Pal Predicts 2013 Double Pump For Ethereum: Holds More ETH Than BTC
According to Raoul Pal, a widely respected macro strategist and Real Vision CEO, the clearest bet in the crypto market right now is on Ethereum (ETH).
Pal, who formerly was a Goldman Sachs fund manager shares with Camila Russo in a new interview on The Defiant that Ethereum currently offers the best risk-to-reward ratio in his opinion.
“If you can only own one asset over the next 12 months, what would it be? It would be Ethereum. Because it’s the least risky with the highest rewards.”
According to the strategist, the upcoming upgrades on Ethereum blockchain will greatly reduce ETH supply and “massively” increase its network usage.
Ethereum’s highly anticipated London hard fork upgrade is expected to go live on August 4th. EIP-1559, one of many upgrades that will form the hard fork, will make Ethereum a deflationary asset as ETH transaction fees will either be burnt or deposited into a long-term mining pool.
The upcoming transition to Proof-of-Stake (PoS) from Proof-of-Work (PoW) will make Ethereum more environmentally friendly. Pal sees more and more institutions become investors in ETH as these upgrades take hold.
“It feels like we’re in for the double pump. The 2013 repeat.”
Raoul Pal also reveals that he’s increased his position in Ethereum, and reduced exposure to Bitcoin, estimating that ETH makes up 55% of his current portfolio, BTC 25%, and the remaining 20% is spread among other tokens.
100% of his liquid assets are in crypto, Pal reveals.
