Raoul Pal’s Epic Bitcoin Comparison With Legacy Assets
Legendary trader Raoul Pal has reaffirmed his support for Bitcoin (BTC) by drawing an epic comparison between the coin and some legacy assets. Pal took to his official X account to share a Bitcoin price chart that shows an annual return of 110%, simply from “doing nothing.”
The top analyst also highlighted the annual returns on the Nasdaq, which are around 21% from doing nothing as well. He initially questioned the ease of achieving this goal but then acknowledged how easy it is to achieve the massive Bitcoin surge when compared to the GMI Total Global Liquidity Index (the global fiat debasement).
With major currencies losing value over time, the appeal of Bitcoin has become increasingly evident. Pal directly addressed Bitcoin critics who believe that betting on the coin will “end in tears,” noting that this narrative has been ongoing for almost a decade as critics argue that “correlation doesn’t equal causation.”
Pal is confident in Bitcoin’s ability to continually defy norms, believing that the digital currency will continue to see exponential growth while mainstream legacy assets print financial repression.
Bitcoin (BTC) Bullish Thesis Grows
Many other experts, besides Raoul Pal, have argued about Bitcoin’s potential to grow over time compared to traditional assets. While it maintains some forms of correlation with the stock market, there has been a decoupling over the past few months, with Bitcoin now influenced by internal factors such as the emergence of spot Bitcoin Exchange Traded Fund (ETF) products.
Top investors like Samson Mow see the price of Bitcoin surpassing the $1 million benchmark, and other veterans like Ark Invest’s Cathie Wood and SkyBridge Capital’s Anthony Scaramucci are also confident in the coin’s ability to keep growing.
This article was originally published on U.Today
