In a recent interview, former Goldman Sachs executive\u00a0Raoul Pal\u00a0said that a \u201cpromised land\u201d is being created through cryptoassets and digital finance.\u00a0<\/p>\n
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
Speaking in a new podcast interview with Natalie Brunell, Pal said that cryptoassets were creating the foundation for a new digital economy. Pal said \u201cthe new digital architecture of the world\u201d was being built , causing people to migrate to a new \u201cparallel financial system\u201d at an \u201cunbelievable speed.\u201d<\/p>\n
As reported by The Daily Hodl, Pal said:<\/p>\n
What is happening is a parallel financial system \u2013 and even more than a financial system, it\u2019s the new digital architecture of the world \u2013 is being built. There\u2019s a new promised land and people are migrating across at unbelievable speed.<\/p>\n
The Real Vision CEO said his former clients and friends from the macro economics world have been transitioning to the digital financial system because \u201cthe returns are so big.\u201d<\/p>\n
He continued, explaining the opportunities being afford through cryptoassets:\u00a0<\/p>\n
The opportunities \u2013 the ability to be optimistic and not pessimistic, while keeping one eye on the kind of burning city of the old, which is the old financial system, but going to this new beautiful world \u2013 it\u2019s the discovering of the Americas all over again.<\/p>\n
Pal said the remodeling of the financial world would lead to the \u201clargest redistribution of wealth in all recorded history.\u201d The chief executive also mentioned that crypto provided plenty of investment opportunities and that it has massive potential. He called the upside to the digital financial system \u201cunlimited,\u201d and said it was an \u201cinteresting\u201d period of time for investors.\u00a0<\/p>\n
Pal predicted the crypto markets would continue trading sideways in the short term before taking off on another rally before the end of the year.\u00a0<\/p>\n
https:\/\/youtube.com\/watch?v=FFGcWEpm5bs%3Ffeature%3Doembed<\/p>\n