Macro guru and Bitcoin bull Raoul Pal says he’s battling the urge to sell off all of his BTC in order to buy more Ethereum (ETH).
The former Goldman Sachs executive tells his 459,300 Twitter followers that he thinks Ethereum’s on the verge of breaking out to an all-time high against Bitcoin.
“When you price anything up in DeFi (decentralized finance), non-fungible token (NFT), community tokens or even metaverse worlds, everything is basically priced in ETH, including designers’ time etc. ETH is rapidly becoming the currency of the digital world and BTC is the pristine collateral and base layer.
The ETH space is growing at 100% YOY (vs 50% YOY for BTC) and it is attracting a massive proportion of the developer talent and applications too.
At this point in the risk cycle and with ETH 2.0 coming (cheaper fees and less supply), I’m struggling to not sell all my BTC to move my entire core position to