Ethereum has been on an impressive growth path recently. The digital asset recently broke a three-month high after it broke through $3,400 in the early hours of Tuesday. Usage on the Ethereum network has increased drastically in the recent weeks, causing fee rates to surge 200% in the space of a week. As more users adopt the leading smart contracts platform, predictions for the asset’s value have risen accordingly.

Raoul Pal is an ex-Goldman hedge fund exec who is bullish on cryptocurrencies. The ex-hedge fund exec had then gone on to co-found Real Vision, a platform that provides insights and analysis for investors. Pal was on a podcast to talk about his cryptocurrency investment strategies for the top 2 largest projects in the market, Bitcoin and Ethereum, and he had some interesting predictions for both cryptocurrencies.

Related Reading | You Can Now Use Your .COM Domain As An Ethereum Wallet Thanks To This Integration

Real Vision CEO Raoul Pal gave some very optimistic predictions for the top 2 digital currencies during his interview. Pal said he believed that Ethereum was going to be at $20,000 by the end of March 2022, while putting Bitcoin price between $250,000 to $400,000 in the same time frame. For Ethereum, Pal said that the growing popularity of decentralized finance (DeFi) and non-fungible tokens (NFTs) factors into his prediction. Disclosing that both DeFi and NFTs have already been twice as widely accepted as Bitcoin.

Related Reading | Billionaire Who Predicted 2008 Housing Crash Says Bitcoin Is “Worthless”

Ethereum adoption has far dwarfed the rest of the crypto space, Pal said. Adding that the recent London Hard Fork and EIP-1559 work to reduce ETH supply, and with ETH 2.0 staking, further propels the bullish setup for the price blowout.

“There’s tons that have gone into just holding, tones that are locked up in DeFi, tons that are locked up in NFTs, and you’re left with, as of today, 11% of the entire supply of Ethereal available and it’s going down every day, and the demand is going exponential. The only outcome is an exponential rise in price. There’s no other outcome.” – Raoul Pal, Co-Founder, and CEO, Real Vision

Raoul Pal is not one to give predictions for others to follow without having a stake in it himself. In fact, the CEO had revealed last year that he had moved his entire investment portfolio to cryptocurrencies. That’s how bullish Pal is on cryptocurrencies. The CEO had completely exited his gold holdings, which, at the time, had made up 25% of his investment portfolio, and the funds were moved to crypto. Even at that point, Pal’s portfolio was made out of 75% crypto before he exited his gold positions.

Related Reading | Deloitte Survey Shows 76% Of Finance Execs Think Physical Money Is Nearing Its End

Now, Pal’s holdings consist of cryptos at various degrees of concentration, down to crypto-related products. The CEO revealed that his holdings consisted of 55% Bitcoin, which made up the majority of his investments. Ethereum (ETH) is the second-largest position, making up 25%. The remaining 20% consists of an equally weighted basket of tokens. These range from tokens of decentralized finance (DeFi) protocols, Layer 1 blockchains, and interoperability solutions.

Related Reading | Here’s How Much Your $1,200 Stimulus Check Would Be Worth In Various Cryptocurrencies In 2021

Pal also added that he had “some specific bets in social tokens, metaverse, and other longer-term macro bets.” The Real Vision co-founder referred to Ethereum as “the greatest trade” from a macro perspective point of view. And he expects the cryptos to go up in Q4 of 2021. “Don’t forget that they usually go up 5X to 10X in the last three months of the year, and we haven’t even got to the all-time high,” Pal said.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

260 +