(Rejected 1) Ex-Goldman Sachs Executive: Bitcoin is the Best Income Generating Asset to Invest Your Money Today
Raoul Pal, ex-executive at Goldman Sachs, predicts that Bitcoin will be the best performing asset over the next decade. Bitcoin outperforming against all other existing assets has left several people wondering if the crypto can keep its macro uptrend remain intact for the following decade.
Raoul argues that Bitcoin would be his preferred choice is he could only own the asset for the next ten years.
Previously, Raoul was the executive of Goldman Sachs, but now he is the CEO of Real Vision, a financial media company.
Can Bitcoin Be the Best Asset for The Next Decade?
Raoul believes that Bitcoin is the best asset for him to hold for the next decade because the cryptocurrency encapsulates all other traditional asset classes like commodities, bonds, stocks, and fiat currencies worldwide. This statement supports his previous revelation in an interview with Stephan Livera podcast in August 2019. In the interview, Raoul suggested the world will turn to an alternative system of finance, which will be digital. He mentioned that Bitcoin is basically an option for the future of finance.
Based on his current prediction, Raoul reveals that excerpt Bitcoin, all other cryptocurrencies are overvalued (meaning expensive) according to their market volume and capitalization. He says that he is not interested in real estate nor traditional stocks and bonds. He explains that equities hit all-time highs, and push extreme valuations for relatively little profit and potential. Raoul further mentions that bonds are not also much better as they are down to virtually zero yields and draw negative yields in some cases – which debt considered safe provides.
Raoul reveals that real estate is even not attractive as he calls this asset class as unaffordable, arguing that it makes less sense to purchase properties because they are trading near all-time highs. He, therefore, strongly believes that the next decade is going to be more influential on Bitcoin more than any other asset.
He explains that buying Bitcoin is the best investment that makes sense to people. Bitcoin provides a risk-reward profile where consumers have plenty of time to accumulate wealth in other assets.
Bitcoin remains a very speculative investment, but it has emerged widely accepted and the most popular cryptocurrency. Many retailers are accepting the cryptocurrency as a form of payment, and many investment firms and exchanges have unveiled future trading for Bitcoin. This is a move, which helped legitimize it.
Other Executives Keen on Bitcoin Bull Market
Many more high-profile executives are keen on Bitcoin and agree that the cryptocurrency will be formative in the following decade. More formative than the previous decade.
Deutsche Bank research in December revealed that crypto-assets have the potential to replace fiat currencies in the next decade. The Deutsche Bank report showed that the forces which have held fiat system together now look fragile and they could crumble in the 2020s. The report mentioned that a new “mainstream” cryptocurrency could rise in the following decade, thus disrupting the existing market. Countries are contemplating to launch their own national cryptocurrencies, which could help get more people on the digital assets wagon.