Former Goldman Sachs executive and current Real Vision CEO Raoul Pal says he’s making a bet on two groups of emerging crypto assets.
In a new interview with CryptoInsightUK, the widely-followed investor says that he’s been optimizing his portfolio based on where he thinks the crypto space is going.
Pal asserts that he thinks the metaverse is “where everything is going.” The metaverse can be loosely defined as a virtual shared space, created by the internet, augmented reality or other shared ecosystems. He’s also bullish on social tokens – coins backed by a brand, organization or an individual.
“I started layering into more macro bets on where I thought the space was going. So trying to be more intelligent than just a basket, I’ve still kept the basket, but my bets are moving towards the metaverse and social tokens, and community tokens, which I think are going to be a huge, huge disruptive business model, and I think the metaverse is where everything going. So that’s kind of how I’ve played it. Now, I’m roughly 25% Bitcoin, 55% Ethereum, and 20% in all the other stuff.”
Metaverse assets include non-fungible tokens (NFTs), virtual parcels of land and other digital collectibles.
Real Vision, who Pal heads, unveiled an updated portfolio over the weekend that showed the firm had a fresh 3.66% allocation to Chiliz (CHZ).
CHZ is a token for blockchain-backed products & services geared toward mainstream consumers. CHZ fuels Socios.com, a sports-fan engagement platform that allows users to buy fan tokens from their favorite team.
While bullish on the crypto markets at large, Pal has previously said that the nascent space is at a crucial inflection point. According to him, Bitcoin’s current price action is mirroring the massive correction in 2013 right before BTC went on a parabolic 900% rally from $100 to $1,000.
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The post Macro Guru Raoul Pal Says He’s Betting on These Emerging Crypto Assets appeared first on The Daily Hodl.
source https://dailyhodl.com/2021/06/15/macro-guru-raoul-pal-says-hes-betting-on-these-emerging-crypto-assets/