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Commenting on current geopolitical tensions, Real Vision founder and macro guru, Raoul says that the real value of cryptocurrency in our daily lives will be starting to show.
In a new video on his YouTube channel, the former Goldman Sachs executive says that Russia’s expedition in Ukraine and the consequential actions of nations across the globe will only add to the meaning of cryptocurrencies like Bitcoin (BTC). He said:
“A distributed network that’s not owned by anybody but is owned by everybody is almost priceless in a situation like this.”
For Pal, the crypto market’s recent volatility, resembles that of the pandemic price crash in March 2020 after which Bitcoin and other assets started reaching new all-time highs. At the time, the crash saw a dramatic sell-off that which then had crypto skyrocket shortly after.
Noting a similar pattern, Pal said:
“We haven’t made a new low – we’ve thrown a war at crypto, we’ve thrown Chinese bans, we’ve thrown all sorts of stuff, 8% inflation… and crypto didn’t make a new low, so I think there’s a signal there, but again, we need to watch it. I don’t think that’s the bet to put all your money in right now. All of my money’s in it, but I am adding to these other trades. “
He continued:
“The crypto situation gets interesting, I think, as people start to realize that at [a] sovereign level, this becomes a solution for them too. And the rise of central bank digital currencies, the moving away from the SWIFT system – that’s all coming into this game.”