Former Goldman Sachs Executive Raoul Pal is notoriously bullish on Bitcoin. Even in October 2021 he is still bullish. However, recently there has been information circulating that Pal has reduced his Bitcoins – only 1 BTC is left.
In April 2020, Pal said that Bitcoin has a ‘future’. According to him, Bitcoin worth $ 10 trillion is not something crazy.
Then in October 2020, Pal again mentioned that he allocated 50% of his investment funds to Bitcoin. He even considered selling his gold so he could buy Bitcoin.
“Now it’s probably above 50%. True, I already deducted the cash, allocated it to Bitcoin. My trading position is relatively small because I don’t think there are opportunities as good as Bitcoin. So, really, a little cash, some gold and bitcoins, I even considered selling my gold to buy more Bitcoins,” he said.
Pal also describes Bitcoin as a ‘supermassive black hole’ that absorbs anything into it – due to Bitcoin’s excellent growth. while in November 2020, Pal said that his crypto asset portfolio was divided into 2, namely 80:20 for BTC and ETH.
In April 2021, he enthusiastically discussed how ETH could be superior to BTC.
However, in January 2022 Pal was involved in a debate with hard-line BTC supporters via Twitter. His anger led him to reveal that he only has 1 BTC now.
“And that is your problem. I don’t share philosophy with you, so you attack me? really? This is why I only have one Bitcoin, the community has lost sight of it and you, sir, help reduce the effect on the network by excluding people who don’t share their views on the network,” Pal tweeted on January 20, 2022.
Despite the debate, Pal admits the reason he only has 1 Bitcoin is because Bitcoin’s performance is lower than Ethereum and some other crypto assets today. Besides that, Pal admits that his Bitcoins don’t go to new players’ wallets.
“Lots of discordant comments about me having only 1 BTC! I only have a small amount of BTC because I think it costs less over time than ETH and some other coins. This doesn’t mean I’m negative BTC. After all, I haven’t sold my crypto to novice players either,” said Pal.
After this mess, Pal stated that he might save 2 to 3 BTC in the future. This he conveyed on the Peter McCormack podcast. “I think about 1 or 3, but not too much,” he said.