Real Vision chief executive Raoul Pal thinks the current geopolitical tension stemming from Russia’s invasion of Ukraine will ultimately demonstrate the value of crypto to the world.
In a new Real Vision video, the former Goldman Sachs executive says that the war and corresponding international political policies all play into what crypto means for people across the globe.
“A distributed network that’s not owned by anybody but is owned by everybody is almost priceless in a situation like this.”
Pal also says the crypto market’s current turbulent price action reminds him of the pandemic price crash in March 2020. He notes the crash involved a dramatic sell-off that nonetheless failed to make a new low versus the prices 18 months prior. Then crypto proceeded to skyrocket in price the following year.
Today’s market currently looks quite similar, explains the Real Vision CEO.
“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.
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.”
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Featured Image: Shutterstock/Tuso949/Natalia Siiatovskaia
Source: https://dailyhodl.com/2022/03/09/in-times-of-war-crypto-assets-almost-priceless-according-to-macro-guru-raoul-pal/