Global Macro Investor founder and chief executive Raoul Pal is betting big on the future of digital currencies.
Pal is offering an update on his portfolio and declares more than half is now dedicated exclusively to BTC.
I’m over 50%
— Raoul Pal (@RaoulGMI) September 8, 2020
Pal is also publicly pondering just how far he should go in his wager that Bitcoin will be one of the most lucrative assets of the next decade.
“Is it possible to get irresponsibly longer or is irresponsibly long the max? Asking for a friend… Bitcoin.”
The high-profile investor says his portfolio allocation is high risk and not something everyone should pursue.
“We are all 100% aware of the downside risk in a 60 vol asset… this is not a trade for a great grandmother.”
The Global Macro Investor executive says he’s accepted the possibility that Bitcoin might plummet all the way down to zero.
No tears.
— Raoul Pal (@RaoulGMI) September 8, 2020
To further clarify his apparently BTC allocation, Pal explains that there’s a method behind the madness.
“I just want to be clear, with regards to being irresponsibly long bitcoin: I don’t use leverage. I fully expect to have to deal with a 50% drawdown and, I’m ok with it. I look at my allocation versus liquid assets and not my house etc. I am lucky have an income stream, which is key.”
In May, Pal said Bitcoin appears to be entering one of the best technical setups of all time and could be on a long-term trajectory to $1 million.
