The founder of Global Macro Investor, Raoul Pal, is bullish on the future of digital currency as he moved more than 50% of his portfolio to Bitcoin. Pal revealed this in a tweet posted on the 8th of September. Noting that his move is highly risky, he also added that it is not a great move for everyone.
“We are all 100% aware of the downside risk in a 60 vol asset… this is not a trade for a great grandmother.”
Pal has always been optimistic about Bitcoin. He believes that the asset is one of the best he has ever seen. In May, Pal said BTC was on a trajectory to $1 million.
In addition to his recent comments on his Bitcoin portfolio, he said in another tweet:
“Is it possible to get irresponsibly longer or is irresponsibly long the max? Asking for a friend… Bitcoin.”
Also, it appears that the high-profile investor is prepared for the worse regarding his investment. When asked what his reaction would be if BTC falls to zero, his response was “no tears.”
Furthermore, the Global Macro Investor gave precise details on his method of investment:
“I just want to be clear, with regards to being irresponsibly long [on] Bitcoin: I don’t use leverage. I fully expect to have to deal with a 50% drawdown and I’m okay with it. I look at my allocation versus liquid assets and not my house etc. I am lucky have an income stream, which is key.”
Image Credits: Pixabay
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