What Traditional Investors Think of Bitcoin with Raoul Pal

 
 
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“Here we’ve actually got a broadening, diversifying, deepening market which looks perfect technically, has a good roadmap, has good seasonality. If you can’t find conviction here, you’re never going to find it. This is the perfect storm for bitcoin.”
— Raoul Pal

SHOW DESCRIPTION

Location: Remotely
Date: Thursday 4th February
Company: Real Vision
Role: Co-Founder & CEO

Unlike almost every other market, in bitcoin, retail had the chance to front-run Wall Street. Since before bitcoin even had a price, the libertarians and cryptographers believed in bitcoin's ability to become the world's most dominant financial system.

Bitcoin has been through many boom and bust cycles that were almost entirely retail-driven, yet the institutions have dominated the 2017 narrative.

MicroStrategy changed the landscape for bitcoin investment and ushered in a new wave of 'smart' money. While there was undoubtedly institutional investment before MicroStrategy, it was their purchase of 21,454 bitcoin in August of last year that opened the floodgates to corporate investment.

But how do these traditional, 'smart' money investors view bitcoin? And what do they think of bitcoiners?

In this interview, I talk to Raoul Pal, macroeconomist and co-founder & CEO of Real Vision. We discuss the differences between retail and institutional investors, what a $1 trillion market cap means, volatility and market cycles.

TIMESTAMPS

00:05:08: Introductions
00:06:29: Bitcoin black hole
00:08:09: The power of a collective
00:09:41: Transparency of Bitcoin akin to WallStreetBets
00:12:56: The institutional protective moat around Bitcoin
00:16:13: Price vs market cap for investors
00:19:40: Time is the biggest hurdle for institutional investors
00:22:06: The importance of the MassMutual purchase
00:24:39: The Ruffers' selloff
00:25:39: Leveraging against your Bitcoin vs selling
00:30:28: Predictions for the peak of this cycle
00:40:57: The future perception of Bitcoin
00:42:40: Strike and Bottlepay
00:45:01: Building on the blockchain
00:47:38: The changing future focus of Bitcoin
00:50:27: Negative interest rates
00:55:59: Financially planning for retirement
00:59:37: Raoul's outlook for the year
01:02:31: Final comments

 

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SHOW NOTES

PodcastPeter McCormack