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    ‘Enormous Wall of Money’ coming into Bit coin, Price to reach $1 Million in 5 years, says Raoul Pal

    Raoul Pal is a very famous and a very well known former hedge fund manager who shared his views regarding gold, economy and bit coin on F9news. He expressed his views in a recent podcast interview with Daniela Cambone who is working in Stansberry Research.

    Previously, Pal was doing co-management of Global Macro Fund (GLG) in London. After departing from Goldman Sachs, he co-managed all the hedge fund sales business and Equity Derivatives in Europe. Since then, he found Global Macro Unvestor and Real Vision Group as well.

    Pal begins everything by giving a sensible statement in front of everyone. He said on 4besnews:

    “The economy is not going to recover for a lot longer than we expect.”

    He then continued by saying it clearly that there is no stimulus left around and people will be facing a lot more problems in coming days in Europe, U.S and also somewhere else as well. He also said fewer statements regarding business. According to him, businesses do not have enough cash flow left. He pointed out towards the fact that businesses are closing in a huge amount like droves and that is where the problem lie which is in insolvency phase.

    So, according to that former hedge fund manager, the only answer for all these issues and unsolved mysteries lie in the central banks. He admits that this is the only reason why he started to buy more and more bit coin. He is sure of the fact that the value of bit coin will rise up to the brim one day.

    -Adoption of Bit Coin

    Pal has a clever broadcast regarding the price of Bit coin. He openly says that the price of the bit coin will not rise due to the sudden collapse in situations but it will rise because there will be real adoption by large pools of the capital.

    He already kept an eye on the adoption of bit coin. According to him, its adoption will start to happen in waves soon which will start with retail and then starts moving into hedge funds. Pal used to believe that there is a specific country knows as Nicaragua with constant problems of having devaluation of the currency.

    According to him, in the case of currency devaluation, there will be another huge and long story for this. He compares this story with another story of Micro strategy that shifted to $425 million treasury reserve into bit coin.

    Pal further shared some more statements regarding the same topics. He said:

    “From what I know, from all of the institutions, all of the people I speak to, there is an enormous wall of money coming into this.”

    -Why would someone have a Gold Allocation?

    Pal also revealed very shocking news. He said that he is looking forward to sell his gold investments and convert them to the bit coins as soon as possible. He also clarifies that he is thinking for doing so because of the latter’s superior performance. He got deeply impressed by that and now he will surely replace his gold investments with bit coins.

    According to him:

    “When you get to the Macro Opportunity, when it is all happening, Bit coin starts breaking out of these patterns that it’s being forming. It is surely going to massively outperform gold. I am 100% sure. In such case, why would I have a gold allocation?”

    Pal is not alone in this concept though. Coin telegraph also noted and then analysts including another statistician named Willy Woo have forecast bit coin as well. According to them, Bit coin is breaking away all the traditional assets correlation to forge its own path and work for it.

    However, the time frame is unclear. Somehow, Woo in the previous month nonetheless anticipating it to happen very soon in future. There is also a latest report regarding crypto index fund provider named Stack Funds.

    Normally, bit coin exchange particularly implements a multi-signature system to process all with drawls from cold storage. To take its example, let’s consider it like a wallet that is not connected to the internet. To transfer these funds from the cold wallet, the exchange often distributes different keys to the owners.

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