Raoul Pal Puts Crypto Above ‘Baby Boomer Game’ To Build Wealth – Benzinga
Raoul Pal, a former Goldman Sachs executive, said that cryptocurrency with a $1 trillion market cap is only 1/200th the size of the global equity market, yet it presents one of the best chances for a young person to make any future wealth.
What Happened: Pal told his 992,000 Twitter followers to identify long-term investment themes with secular tailwinds, as well as potential opportunities that could outpace currency debasement over time.
According to Pal, with current investment equities, young investors are increasingly finding it difficult to make any real profits, and Quantitative Easing (QE) and other monetary policies have only exacerbated the situation.
“Trying to play the Baby Boomer game (income/real estate/S&P 500) is simply unlikely to make the returns required,” said Pal.
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Pal believes crypto has the potential to bridge this gap, along with “technology stocks too (The Exponential Age) or secular trends such as India.” He added that while you can trade on these assets it rarely yields the desired result. So, the only way is through long-term investments.
This comes at a time Bitcoin BTC/USD breached the $23,000 level, and Ethereum ETH/USD is trading above $1600.
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