Raoul Pal was one of the first analysts to cover Bitcoin.Here’s an excerpt from the 2013 paper he wrote on Bitcoin: “It’s either worth zero or it’s worth a truly outstanding amount of money.”Raoul estimated at the time that Bitcoin could be worth upwards of 1 million per coin. So he bought in. His first buy price was just 200.
Raoul then sold out in 2017 at 2,000 over concerns about the forking wars.He then entered back in to Bitcoin in 2020 with a buy price of 6,5000 and has been long ever since.
Sounds like he did pretty good, right?
In his latest interview, Raoul broke down why he played it completely wrong. Due to his strategy, he’s missed out on a fortune.
Raoul went back and analysed his buys & sells. If he had just held on to his original position – he would have done 5x better.
If he had added to his positions during the depths of the bear markets? He would have done 25x better.Raoul’s advice to crypto investors?
Don’t try and get cute with it. Buy & then do nothing. Focus on the highest probability bets and add to your positions when everyone else is panicking.
“I used to try having a basket of crypto, but really what you end up with is a bunch of shrapnel in your wallet that you don’t care about. So I’m like, listen, I’m just gonna keep the focused bets
on the things that have the highest probability. Bitcoin, ETH, Solana. I’m pretty comfortable with those bets.”
About Raoul Pal: Raoul Pal is the co- founder and CEO of Real Vision, the world’s preeminent financial media platform, which helps members understand the complex world of finance, business, and the global economy. In addition, Raoul is the publisher of Global Macro Investor, a newsletter that provides quantifiable and easily readable research for the global macro investment community. He draws on his decades of experience advising the world’s largest hedge fund, along with his experience managing a fund for one of the biggest groups in the world, GLG Partners (now Man G LG ), and running a large business at Goldman Sachs. He retired from managing client money at the age of thirty-six in 2004 and now lives on the tiny Caribbean island of Little Cayman in the Cayman Islands.
CREDITS:
Real Vision Crypto
https://youtu.be/eTnhE3HtD5M
To Follow Raoul on Twitter to see all his latest updates: https://twitter.com/RaoulGMI
To sign-up to Real Vision (Strongly Recommended!) Check them out here:
https://www.realvision.com/
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SOCIALS
Twitter: https://twitter.com/JaminTree
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Email: [email protected]
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