Recently, former Goldman Sachs executive\u00a0Raoul Pal\u00a0explained why, for investors, Ethereum remains the \u201csafest, easiest allocation.\u201d<\/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
Ethereum\u2019s \u201cMerge\u201d hard fork, which is when the Ethereum network is making the transition from proof-of-work to proof-of-stake), is expected to take place around September 15.<\/p>\n
Here is how Ethereum Foundation\u00a0explains\u00a0The Merge:<\/p>\n
\u201cThe Merge represents the joining of the existing execution layer of Ethereum (the Mainnet we use today) with its new proof-of-stake consensus layer, the Beacon Chain. It eliminates the need for energy-intensive mining and instead secures the network using staked ETH. A truly exciting step in realizing the Ethereum vision \u2013 more scalability, security, and sustainability.<\/em><\/p>\n \u201cIt\u2019s important to remember that initially, the\u00a0Beacon Chain\u00a0shipped separately from\u00a0Mainnet. Ethereum Mainnet \u2013 with all it\u2019s accounts, balances, smart contracts, and blockchain state \u2013 continues to be secured by\u00a0proof-of-work, even while the Beacon Chain runs in parallel using\u00a0proof-of-stake. The approaching Merge is when these two systems finally come together, and proof-of-work is replaced permanently by proof-of-stake.<\/em><\/p>\n \u201cLet\u2019s consider an analogy. Imagine Ethereum is a spaceship that isn\u2019t quite ready for an interstellar voyage. With the Beacon Chain, the community has built a new engine and a hardened hull. After significant testing, it\u2019s almost time to hot-swap the new engine for the old mid-flight. This will merge the new, more efficient engine into the existing ship, ready to put in some serious lightyears and take on the universe.<\/em>\u201c<\/p>\n In a recent interview with Abra\u2019s \u201cMoney Talks\u201d podcast, Pal, told Bill Barhydt \u2014 the founder and CEO of Abra \u2014 that he expected Ethereum\u2019s Merge upgrade to create a \u201cmassive supply shock\u201d that would be favorable for the price of $ETH. <\/p>\n As reported by The Daily Hodl, Pal said:<\/p>\n