Raging bitcoin bull Raoul Pal’s thoughts are turning to the altcoin market.
In a series of tweets, the former Goldman Sachs fund manager says he cannot understand the aversion in some quarters to exploring the full digital asset spectrum.
Pal, who believes a gigantic wall of incoming corporate cash will send bitcoin’s price to $1 million, tweeted, “It is like taking a snapshot of early VC bets and writing everything off as a zero because it’s not Google. Apples and oranges. The actual money is in the numbers game – Pareto’s Law…
“Tokens are just real-time trading VC bets. If you owned early seed investments with real-time mark to market you’d see the exact same. 80% go to zero, 19% add value and 1% make all the money. Real time marks freak people out.”
The Real Vision CEO has sold his considerable gold position and invested heavily in bitcoin and Ethereum, and he now wants to diversify his blockfolio with riskier, low-cap plays.
“When you are far out on the risk curve, time horizon and diversification matter more than anything else. Closer toward the safety curve, where you have more security, offers lower returns generally but concentration helps increase those returns…
“Over time I’ll go out further on the risk curve.”