

Raoul Pal: The Journey Man
Real Vision Podcast Network
The world is changing faster than ever before. This comes with life-changing opportunities but also unprecedented challenges. In The Journeyman, I talk to the greatest minds at the nexus of macro, crypto, and technology to figure out exactly what the Exponential Age means for us all. I uncover the big trends, potential investment opportunities, and economic risks and rewards, and ask the big questions on how this impacts us, our businesses, and our societies. Brought to you by Real Vision.
Episodes
Mentioned books

19 snips
Oct 23, 2025 • 1h 7min
🔴 Flash Crash URGENT Update: Drinks With Raoul Pal (Round 19)
Raoul Pal dives deep into the recent crypto flash crash, dissecting its causes and market implications. He emphasizes the importance of long-term thinking for investors, urging patience over impulsive trading. Exploring global liquidity, he highlights potential drivers of future market movements and the significance of gold as a cycle indicator. As Bitcoin shows low volatility, Raoul discusses seasonality trends that may favor gains in the coming months. The conversation mixes expert analysis with cultural insights, all while enjoying a glass of Albarino.

14 snips
Oct 23, 2025 • 1h 6min
Why It’s Still Early for Institutional Crypto Adoption ft. Dan Morehead
Dan Morehead, Founder and CEO of Pantera Capital, is a veteran macro investor and a trailblazer in crypto. In their discussion, Morehead highlights that institutional adoption of crypto is still in its infancy, with many institutions holding no exposure. He explains how monetary policy impacts asset prices, advocating for the potential of gold and Bitcoin amid fiat debasement. The conversation also covers the vital role of stablecoins, the tokenization of diverse assets, and the strategic accumulation of Bitcoin by sovereign nations.

45 snips
Oct 16, 2025 • 56min
Mike Novogratz: How Tokenization Will Redefine Wall Street Forever
Mike Novogratz, Founder and CEO of Galaxy Digital and a veteran in crypto and digital assets, discusses the potential transformation of Wall Street through tokenization. He highlights the strange macroeconomic conditions and how they set the stage for a risk-asset boom. Mike delves into regulatory challenges and their impact on decentralized finance, while outlining Galaxy's pivot from crypto finance to AI-driven infrastructure. He also shares insights on liquidity dynamics in tokenized markets and the risks and opportunities of asset tokenization.

70 snips
Oct 9, 2025 • 1h 6min
Equities Are Back, Baby...! ft. Andreas Steno
Andreas Steno, a macro and business-cycle analyst and founder of Steno Research, joins the conversation to explore the evolving landscape of finance. They discuss the shift from central bank liquidity to private credit creation, highlighting its global implications. The duo also dives into how AI and demographics are driving the need for robotics and automation. They dissect the mainstream adoption of the debasement trade across gold and crypto, and forecast an investment cycle extending into 2026 with promising thematic equity opportunities.

49 snips
Oct 2, 2025 • 1h 16min
AI + Crypto: Building the New Internet of Money ft. Micky Malka
Micky Malka, founder of Ribbit Capital and early investor in fintech giants like Coinbase and Robinhood, shares insights from his early days in Venezuela to Silicon Valley's dynamic landscape. He discusses the end of fintech's first wave, predicting a concentration of power among dominant platforms. Micky emphasizes the convergence of crypto and fintech, exploring how tokenization revolutionizes capital formation and blurs traditional investment lines. He also delves into the exciting intersection of digital art, cultural narratives, and the future of ownership in the tokenized economy.

16 snips
Sep 28, 2025 • 32min
September 2025: Raoul Pal The Journey Man's Monthly Recap
Emmett Hollyer is a product engineer who pioneered Solana Mobile's Web3-first smartphone vision, sharing insights on creating an open crypto ecosystem. Michael Howell, a macro strategist, delves into the liquidity cycle's maturity and its impact on gold, tech, and crypto investments. The discussion touches on the muted business cycle since COVID, the implications of Treasury issuance, and potential market shifts toward high-quality altcoins as Bitcoin trends exhaust. Tune in for a mix of tech innovation and macroeconomic expertise!

76 snips
Sep 25, 2025 • 1h 32min
URGENT: The Everything Code UPDATE ft. Julien Bittel
In this engaging discussion, Julien Bittel, Head of Macro Research at GMI and co-author of the Everything Code thesis, dives deep into the macroeconomic forces that are set to shape future markets. He and Raoul Pal explore why hyperconcentration in investments is becoming crucial, the implications of rising public debt, and the influence of liquidity on asset prices. They also correlate inflation trends with business cycles and predict continued expansion in the economy. Julien even highlights a fascinating comparison of crypto adoption speeds with the internet!

29 snips
Sep 25, 2025 • 56min
🔴 Liquidity & Timing the Banana Zone: Drinks With Raoul Pal (Round 18)
In this entertaining session, Raoul Pal delves into the nuances of the 'Banana Zone,' exploring its phases and warning against poor asset allocation. He shares insights on global liquidity's role in driving markets, particularly in crypto and NASDAQ. With humor, he critiques processed foods while tasting vintage Dom Perignon, compares US supermarket culture to Spanish markets, and offers a thought-provoking probabilistic forecast for 2026. Join him for engaging discussions on lifestyle, NFTs, and the unpredictable world of finance!

31 snips
Sep 18, 2025 • 1h 10min
Is Bitcoin Giving Way to Altcoin Season? ft. Jamie Coutts from Real Vision PRO
In this discussion, Jamie Coutts, Chief Crypto Analyst at Real Vision, dives into the evolving crypto landscape. He explores the shift from Bitcoin dominance to high-quality altcoins, emphasizing the criteria for identifying strong tokens. The conversation highlights vital metrics such as settlement value and liquidity cycles. Jamie also discusses the rapid growth of on-chain activity, comparing crypto's settlement volumes to traditional finance and shedding light on emerging layer-1 chains. This analysis reveals the dynamics shaping the future of digital assets.

58 snips
Sep 11, 2025 • 1h 9min
Mike Howell RETURNS: The Dollar Fix Is In — The Playbook for Gold, Tech & Bitcoin
Michael Howell, CEO of CrossBorder Capital, returns to discuss the global liquidity cycle's impact on markets. He dives into the intricate dynamics influenced by high interest rates and significant debt refinancing post-COVID. Howell highlights how countries like Japan and China shape market behavior and bond yields. He also touches on Europe's economic challenges, the rising necessity for assets like gold and Bitcoin, and the strategic role of stablecoins in the financial landscape. Prepare for a thought-provoking analysis of today’s economic intricacies!


