Bankless

38 - The World is Waking Up to Crypto | Raoul Pal

Nov 9, 2020
Guest
Raoul Pal
Raoul Pal, CEO of Real Vision, is a macro investor renowned for his bullish stance on Bitcoin and interest in Ethereum and DeFi. He discusses the critical role Bitcoin plays in today's financial crises and the incentives driving central banks to print money. Raoul also highlights the shifting relationship between traditional finance and emerging crypto systems, along with the need for education in this space. As crypto businesses flourish, particularly in Ireland, he champions the intersection of macroeconomic knowledge and cryptocurrency for broader engagement.
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INSIGHT

Continued Stimulus Inevitable

  • Governments will provide more fiscal and monetary stimulus regardless of who wins the US election.
  • The virus is not going away and will continue to weigh on growth, requiring continued intervention.
INSIGHT

Bitcoin's Value Proposition

  • Bitcoin is a pristine reserve asset with an adoption curve like technology, making it a call option on the future.
  • It acts as a fantastic security asset now, offering a solution in a world where fiat currencies are losing purchasing power.
INSIGHT

Unique COVID Financial Crisis

  • The COVID financial crisis is unique due to the largest ever debt combined with the largest ever GDP drawdown.
  • This insolvency is worsened by zero interest rates, impacting cash flow and businesses, especially capital-intensive ones.
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