In a recent Twitter threat, Raoul Pal, the Founder and CEO of Global Macro Investor and Real Vision Group, explained why Bitcoin became a “supermassive black hole” that is currently sucking and destroying everything around it. At the same time, he has shared different charts comparing Bitcoin’s price performance to stocks and other assets.
Holding Other Asset More Than Bitcoin Makes No Sense
“Bitcoin is eating the world.” This is how Raoul Pal started his Twitter thread a few hours ago. He compared Bitcoin to a “supermassive black hole” that is destroying everything around it. For example, gold is falling against Bitcoin, which could push some gold investors to move towards BTC in the coming days and months.
The supermassive black hole is going to suck in everything.
Again, this is there best trade/investment and future opportunity I have EVER found and it has the power to give the little guy a chance to grab their share of the wealth creation before Wall Street does. Grab it.
— Raoul Pal (@RaoulGMI) October 27, 2020
He went on by comparing Bitcoin to Nasdaq. Mr. Pal compared the performance of Bitcoin with the Nasdaq and how some traders could move towards Bitcoin in the near future. Furthermore, he shared a chart in which he compared Bitcoin’s price to banks’ performance in the last years. In the last few days, they have reached an all-time low against Bitcoin, and the trend could continue in the future.
He did the same comparison with bonds, commodities, silver, G4 Central Bank Balance sheet, Apple and Amazon. He ended the thread explaining that Bitcoin’s performance is so dominant that it will “suck in every single asset narrative, dry and spit it out.”
About that, Raoul Pal stated:
“Bitcoin’s performance is SO dominant and SO all-encompassing that it is going to suck in every single asset narrative dry and spit it out. Never before in my career have I see a trade so dominant that holding any other assets makes almost no sense.”
Furthermore, he said that macro, flows, technology and demography have all converged to this current moment in time to move towards Bitcoin. Pal explained that Bitcoin represents the best trade/investment and future opportunity he has ever found in his career. He also considers that it is still time for retail users to have access to Bitcoin before Wall Street is able to get into the crypto market.
In recent days, Bitcoin was able to get closer to $14,000, the largest price reached in more than one year. Analysts remain bullish about Bitcoin and the future of the cryptocurrency market. At the time of writing this post, Bitcoin is being traded around $13,650.