Raoul Pal, a cryptocurrency enthusiast and CEO of Real Vision, said that a “money wall” is about to hit Bitcoin (BTC).
Along these lines, Pal believes that the price of the cryptocurrency will skyrocket to $ 1 million (R $ 5.57 million) in up to 5 years.
However, the investor did not present technical grounds to corroborate his hypothesis.
Economy will not recover quickly
Pal is an influencer in the cryptocurrency universe with almost 250,000 followers.
Thus, in an interview with the channel “Stansberry Research“, available on YouTube, the investor commented on the current economic crisis:
“The economy will not continue to recover the way we want it to. There is no incentive for that and we will have more problems coming from Europe, the United States and elsewhere. Businesses are not having a sufficient cash flow … They are closing in droves and this is what I call the ‘insolvency phase’.
The only answer being given is the injection of capital by central banks. This is the reason why I started to buy more and more BTC ”
Furthermore, the businessman claimed that his investment portfolio consisted of dollars, gold, shares and BTC.
However, Pal claims that currently, more than 50% of his investments are allocated in Bitcoin.
Bitcoin hits R $ 5.57 million in up to 5 years
In Raoul Pal’s view, institutional investment in Bitcoin will bring a huge amount of money to Bitcoin.
Thus, corporate investment in cryptocurrencies is still in its infancy. However, companies are already “with the radar on” for Bitcoin, according to the investor:
“As far as I know, for all the institutions and people I talk to, there is a ‘wall of money’ coming into Bitcoin”
That’s why the investor believes Bitcoin will reach the $ 1 million level in 5 years.
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