Macro strategist and Real Vision CEO Raoul Pal believes Bitcoin will reach $1 million in five years.
Unlike many, however, Pal doesn’t think it will be down to hyperinflation or the world collapsing, but ‘adoption by the real large pools of capital’ instead.
Pal, who retired from managing public funds at the tender age of 36, was speaking on the Stansberry Research podcast and stressed the enormous amount of money set to flood the market, and two halving cycles playing out over the next five or six years would see Bitcoin reach $1 million.
‘Whether it’s in five years, six years, were gonna go through two of these halving cycles,’ said Pal. ‘And just what I know from all the institutions and from all the people I speak to there’s an enormous wall of money coming into this.’
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Pal believes the only thing hindering adoption is the lack of infrastructure. However, he is confident it’s coming together and everybody from the financial industry is watching and waiting.
Pal, who has been involved with Bitcoin since 2012, and had 25% of his capital in Bitcoin before the global crisis materialized earlier this year.