Raoul Pal believes that the advent of central bank digital currencies (CBDCs) could adversely affect Bitcoin. In a recent interview with Scott Melker under the The Wolf Of All Streets podcast He said he envisions a scenario where the G20 nations are developing a basket of digital currencies that will be a blow to cryptocurrencies. However, is this a real threat to BTC?
Threat to BTC
Pal believes that a special basket of currencies may be created, but this will force the overvaluation of the currencies that go to him.
– It makes Bitcoin on the sidelines [rynków] it is much less attractive. If they were to implement this [politykę] for ten or twenty years, it would make Bitcoin less needed. Can they do it? I have no idea. What’s the probability? I do not know – He said.
For now, Pal says buying cryptocurrency still makes sense.
– My conviction [dot. kupowania BTC] still growing. This is not just a price feature. It is a function of the number of people who appear in space, thoughts that arise, development, so yes [warto kupować BTC]. I still haven’t sold a single coin and took a long position to commit to this and where it’s all going He said.
Ethereum? Yes, I bet on that too!
Pal is also still interested in Ethereum.
– Just because people were put off [ETH] in 2017 does not mean that everything will happen again – he said, referring probably to the crash and technological problems of Ethereum a few years ago.
Ethereum has survived, is reformed, and ETH is currently trading at over $ 2,000, with a market capitalization of nearly $ 270 billion.
– It’s a risk curve, we’re just getting started … A bond trader can start with a corporate loan and move to junk bonds. A shareholder can go to blue chips, to tech stocks, to emerging markets. It’s normal. These are risk-adjusted returns Pal said.
He said investors should always be prepared for losses.
– Because it’s risky. Risk is a good word, it’s not a one-way bet – stated.