{"id":124307,"date":"2021-05-08T22:17:12","date_gmt":"2021-05-08T22:17:12","guid":{"rendered":"https:\/\/precoinnews.com\/?p=124307"},"modified":"2021-05-08T22:17:12","modified_gmt":"2021-05-08T22:17:12","slug":"eth-hits-3852-raoul-pal-says-investors-he-knows-shifting-allocation-to-eth-over-btc","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/ethereum\/eth-hits-3852-raoul-pal-says-investors-he-knows-shifting-allocation-to-eth-over-btc\/","title":{"rendered":"ETH Hits $3852, Raoul Pal Says Investors He Knows &#039;Shifting Allocation to ETH Over BTC\u2019"},"content":{"rendered":"<p>On Saturday (May 8), with Ethereum ($ETH) trading above the $3,800 level, former Goldman Sachs executive\u00a0Raoul Pal said that \u201cevery single investor I have spoken to is shifting allocation to ETH over BTC.\u201d <\/p>\n<p>Prior to founding macro economic and investment strategy research service\u00a0Global Macro Investor (GMI)\u00a0in 2005, Pal\u00a0co-managed the GLG Global Macro Fund in London for global asset management firm GLG Partners (which is now called \u201cMan GLG\u201d). Before that, Pal worked at Goldman Sachs, where he co-managed the European hedge fund sales business in Equities and Equity Derivatives. Currently, he is the CEO of\u00a0finance and business video channel\u00a0Real Vision, which he co-founded in 2014.<\/p>\n<p>On 30 November 2020, Pal\u00a0revealed\u00a0that he was about to sell his entire gold holdings and use the money to invest in Bitcoin and Ether.<\/p>\n<p>\u201c<em>I have a sell order in tomorrow to sell all my gold and to scale in to buy BTC and ETH (80\/20). I dont own anything else (except some bond calls and some $\u2019s). 98% of my liquid net worth.<\/em>\u201c<\/p>\n<p>Then, on Janaury 18, Pal provided this\u00a0update\u00a0on his crypto portfolio allocation:<\/p>\n<p>\u201c<em>#irresponsiblylong\u00a0BTC and ETH. My split is now 70\/30.<\/em>\u201c<\/p>\n<p>Yesterday, Pal took to Twitter again, this time to explain why he is much more bullish on Bitcoin at the moment:<\/p>\n<p>He then went on to say:<\/p>\n<ul>\n<li>\u201c<em>When you price anything up in DeFi, NFT, community tokens or even metaverse worlds, everything is basically priced in ETH, including designers time etc. ETH is rapidly becoming the currency of the digital world and BTC is the pristine collateral and base layer.<\/em>\u201c<\/li>\n<li>\u201c<em>The ETH space is growing at 100% YoY (vs 50% YOY for BTC) and it is attracting a massive proportion of the developer talent and applications too.<\/em>\u201c<\/li>\n<li>\u201c<em>At this point in the risk cycle and with ETH 2.0 coming (cheaper fees and less supply), I\u2019m struggling to not sell all my BTC to move my entire core position to ETH. To be clear \u2013 I\u2019m a massive BTC bull, but I think ETH is the better asset allocation for performance right now.<\/em>\u201c<\/li>\n<\/ul>\n<p>Interestingly,\u00a0Peter L. Brandt, who is one of the world\u2019 most respected classical chartists and commodity traders,\u00a0agreed\u00a0with Pal\u2019s assessment. His reply to Pal read: \u201cRaoul, I see it the same way\u201d.<\/p>\n<p>Well, around 14:21 UTC on May 8, Pal sent out the following reply to his over 484K followers when Jonathan Cheesman, Head of\u00a0over-the-counter\u00a0(OTC) and\u00a0institutional sales at FTX, asked who is doing all the buying that has helped the Ethereum price go over $3,800 today:<\/p>\n<p>Data by TradingView indicates that at 18:00 UTC on crypto exchange Bitstamp the Etheruem price got as high as $3,852, setting a new all-time high.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/cryptoglobe.s3.eu-west-2.amazonaws.com\/2021\/05\/TV-Chart-ETHUSD-on-Bitstamp-Five-Day-8-May-2021-1-1-1280x686.png\"><\/p>\n<p>Currently (as of 20:10 UTC on May 8), Etheruem is trading around $3,807, which means in the past 24-hour period, ETH-USD is up 8.15%. As for the year-to-date period, ETH-USD is up 416.55%.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/cryptoglobe.s3.eu-west-2.amazonaws.com\/2021\/05\/TV-Chart-ETHUSD-on-Bitstamp-YTD-8-May-2021-1-1-1280x686.png\"><\/p>\n<p><strong>DISCLAIMER<\/strong><\/p>\n<p><em>The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.<\/em><\/p>\n<p>Source: <a href=\"https:\/\/www.cryptoglobe.com\/latest\/2021\/05\/eth-hits-3852-raoul-pal-says-investors-he-knows-shifting-allocation-to-eth-over-btc\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>On Saturday (May 8), with Ethereum ($ETH)<\/p>\n","protected":false},"author":3,"featured_media":124306,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[48],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>ETH Hits $3852, Raoul Pal Says Investors He Knows &#039;Shifting Allocation to ETH Over BTC\u2019 - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/ethereum\/eth-hits-3852-raoul-pal-says-investors-he-knows-shifting-allocation-to-eth-over-btc\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ETH Hits $3852, Raoul Pal Says Investors He Knows &#039;Shifting Allocation to ETH Over BTC\u2019 - 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