Macro strategist Raoul Pal says the price of bitcoin will reach $1 million in five years. He attributes the price increase to adoption by large pools of investors and the “enormous wall of money” coming into bitcoin, rather than because “the world is collapsing.”
$1 Million Bitcoin in 5 Years
Former hedge fund manager Raoul Pal shared his view on the economy, gold, and bitcoin last week in a podcast interview with Daniela Cambone of Stansberry Research. Pal previously co-managed the GLG Global Macro Fund in London after departing Goldman Sachs where he co-managed the hedge fund sales business in Equities and Equity Derivatives in Europe. He then founded Global Macro Investor and Real Vision Group.
“The economy is not going to recover for a lot longer than we expect,” he began. “There’s no stimulus around and we’ve got more problems to come in Europe, the U.S. and elsewhere. And businesses