Raoul Pal, the CEO, and founder of Global Macro Investor says how much he has hope for Bitcoin. By calling it “the hardest asset ever produced,” he seems very bullish about the leading digital asset.
Pal has remained a strong supporter of Bitcoin for a long time. He said in March that “I can not express how bullish I am on Bitcoin” when the stock market crashed. His prediction at that time proved true as Bitcoin has performed well out of all assets.
Yesterday, Pal wrote a newsletter for Global Macro Investor and the major stress of the newsletter was on cryptocurrency. He even said,” I think it’s the world’s best trade and of which I’m irresponsibly long.”
“Bitcoin offers lots of other incredible potential opportunities, but its core value is that it is the hardest form of money ever invented,” Pal added.
Fixed Supply Feature
Global Macro Investor CEO also discussed about the major feature of the leading asset as its supply is fixed which makes it different and charming than others. Bitcoin has also special features which are not possessed by any other asset. Pal stated:
“Something that has a finite fixed supply and is incredibly secure has true value…The fact that it is divisible, portable, transferable, and exchangeable makes it have potentially more value than any other store of wealth, or any other form of money.”
Bitcoin is Better than Gold
A discussion is going on which asset is better than out of gold and Bitcoin. Pal believes that Gold is far better than gold. He further added:
“The honest truth is that [Bitcoin] beats gold on every single measure, except it just doesn’t have 10,000 years of history…Gold was the traditional solution, but its lack of ease of use in the digital age and lack of ease of transportability makes it suboptimal for society’s needs.”
“In my opinion, Bitcoin is the best reserve asset and best collateral asset ever seen, he concluded by saying.