Earlier today on April 3, the CEO and founder of Global Macro Investor Raoul Paul appeared on Twitter and spoke about the current market crisis caused by the COVID-19 pandemic. While sharing his view on the current situation, he says that at the moment, only three things are making the most sense which are the leading digital asset Bitcoin (BTC), Gold (XAU), and US Dollar (USD).
Bitcoin, Gold, and USD are reliable assets
Raoul Paul’s comment shows that he has a strong faith in these three assets. He believes that these three assets are the most reliable assets in the current market financial crisis. He also highlighted the fact that later on, only two assets Bitcoin and Gold will make sense removing USD from the list of reliable assets. As Raoul Paul says:
“Dollars, Gold and Bitcoin make the most sense. Later, much later, just gold and bitcoin. This is an 18 month to 36 month view. Expect many counter-trend moves along the way. We will have to navigate those.”
Dollars, Gold and Bitcoin make the most sense. Later, much later, just gold and bitcoin.
This is an 18 month to 36 month view. Expect many counter-trend moves along the way. We will have to navigate those.
— Raoul Pal (@RaoulGMI) April 3, 2020
Mark Yusko also has the same opinion
The CEO of Morgan Creek Capital Management Mark Yusko also agrees with Global Macro Investor and shared the same opinion while speaking with CNBC. He believes that cash is the king during the COVID-19 epidemic but he also highlighted the importance of Bitcoin in his discussion as well.
“It’s an insurance against the collapse of the financial system. But what I am saying is that the [stimulus] response from the government… is going to have a negative impact on currencies globally, particularly western currencies. So, you want to have something that appreciates in value. Bitcoin is going to do that.”
Along with Raoul Paul and Mark Yusko, some other people also have expectations with the leading digital asset. For instance, Billionaire investor and Galaxy Digital CEO Mike Novogratz is extremely bullish on Bitcoin and is expecting Bitcoin to reach its all-time high by the end of this year. Moreover, he has recently said that the price value of Bitcoin will become double in the next six months.