Microsoft and Apple Will Buy Bitcoin Within Five Years, Says Macro Guru Raoul Pal – Here’s Why

dailyhodl.com 2020-10-22 17:30
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Raoul Pal, co-founder and CEO of Real Vision Group, says Bitcoin is the “life raft” that will take the population and corporate giants through the end of global fiscal policy as we know it.

The former Goldman Sachs hedge fund manager is comparing the Covid-19 recession to the 2008 financial crisis, but he goes further and predicts the US economy will reach an insolvency phase when growth doesn’t materialize like people expect. He says governments around the world are relying on central banks to “backstop them” and provide unprecedented levels of global stimulus via money printing.

Europe will also have serious problems, Pal says.

“I’m not entirely sure how the Europeans are going to keep hold of their banking system in the middle of this and I’ve feared for a long time it may end up getting nationalized.”

Pal says central banks are going to eat the banking system and that cryptocurrencies are eating finance. He also says he’s going to be “bloody surprised” if some of the biggest companies in the world like Apple and Microsoft aren’t sinking cash into Bitcoin within five years to protect their capital from dollar devaluation, following companies like Square and MicroStrategy.

“I do think that Bitcoin is the cockroach that can’t be killed. I think it is something too powerful for even governments to overcome. And I think it is our life raft and our way out.”

The crypto trader and analyst notes that central banks are responding to the economic situation by talking about adopting their own digital currencies.

He thinks that’s a bullish development for BTC.

“Nothing is a reserve asset like Bitcoin. Literally nothing. Not even gold. It is truly extraordinary, and it’s so innovative we have no idea where it’s going. And when we talk about Bitcoin, we can also look at the other parts of the digital asset ecosystem. That is not going away. The genie is out of the bottle. Ethereum is not going away. Digital assets, tokenization – it’s all coming, and it’s all going to slot into these new digital currencies brought by the central banks.

So payment systems and rails and everything are going to change massively. Everything we understand – it’s going to be as big a revolution of money that the internet was from everything to email to video to shopping to commerce. It just changed the world we live in. That’s the size of what this is. And this central bank digital currency is part of that narrative. And it is positive, I think, if you own Bitcoin.”


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