Wall Street Veteran Irresponsibly Long on Bitcoin (BTC)

This Wall Street veteran loves Bitcoin
Real Vision CEO Raoul Pal tweeted again on August 6th that while gold is a good hedge against fiat pressure, Bitcoin is the better choice.
“In fact, only one asset offset the growth of the G4 balance sheet. There are no stocks, no bonds, no raw materials, no loans, no precious metals, no miners. Only one asset outperformed massively in almost every time horizon: Yup, Bitcoin.” He also said that this simple fundamental fact makes him more optimistic than ever about cryptocurrency. Pal added that he is now “irresponsibly long”.

“My belief in Bitcoin is increasing every day. I’m already long irresponsibly. I think now that it may not even be worth owning any other asset as a long-term asset allocation, but that’s a story for another day (I’m still thinking about it). “

Well-known Bitcoin cop Mike Novogratz is a former partner of Goldman Sachs and former CEO of Fortress. After that he switched to Galaxy Digital. He recently re-affirmed his preference for Bitcoin in a comment to CNBC, arguing that BTC could hit $ 20,000 this year.

“Much of that retail interest shifted to story stocks, tech stocks, because they were just more fun … Yesterday a lot of money shifted back to gold and bitcoin.”
Other players like Paul Tudor Jones, a billionaire hedge fund manager, are also enthusiastic about Bitcoin. While Jones spends much of his time investing in traditional investments, he said in May that he has also invested in Bitcoin.