Recently, a former Goldman Sachs executive\u00a0gave examples of crypto\u2019s strong fundamentals, and explained what he thinks is the best approach to investing in crypto.<\/p>\n
Prior to founding macro economic and investment strategy research service\u00a0Global Macro Investor (GMI)\u00a0in 2005, ex-Golan executive Raoul 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
According to a report by The Daily Hodl, this is what Pal had to say about crypto during a recent conversation with Tim Bilyeu, the host of YouTube series \u201cImpact Theory\u201d:<\/p>\n
\u201cHas anything changed in the crypto market? Not a thing? Is the technology being utilized? Has Solana just agreed to use their blockchain with Meta for NFTs (non-fungible tokens)? Yes. Are Google working with Solana? Yes. Did DeFi (decentralized finance) fail? No. Does the decentralized financial system idea work? Yes. Are cryptocurrencies being exchanged in a value system on the Internet? Yes. Is the number of people growing in that ecosystem? Not a lot, because it\u2019s stabilized.<\/em>..<\/p>\n \u201cSo it really is a psychological game. And it\u2019s a long-term game. We\u2019re not involved because we can make money over a one-year time or a two-year time. We\u2019re saying, listen, the bet here is if you hold on and if you add at the bottom of the panic cycle and just keep holding and don\u2019t use leverage and just be sensible about what you\u2019re doing and don\u2019t keep checking the market every day, the probability [is] of you coming in at the end of the decade and having manifested your future self in a way that probably might be quite unexpected.\u201d<\/em><\/p>\n https:\/\/youtube.com\/watch?v=0wJA_KHfZ6g%3Ffeature%3Doembed<\/p>\n On 16 November 2022, as The Daily Hodl reported, during an \u201cAsk Me Anything\u201d session streamed on YouTube channel \u201cReal Vision Crypto\u201d, Pal had this to say about Solana:<\/p>\n \u201cI really like Solana and I understand that the chain breaks. I also understand that they are fixing it. I also understand that\u2019s a no-no. And one of the elements was, it was concentrated in its ownership because of FTX. They are now able to liquidate it and so you\u2019re getting rid of one of the issues.<\/em>..<\/p>\n \u201cSolana itself, I think it\u2019s doing something very clever. In cryptocurrencies, what matters is narrative. Bitcoin narrative, digital gold for example. Ethereum, the distributed Internet for Web3. So where do these other chains fit in? Well, Solana has and is building a narrative, which is the consumer chain\u2026<\/em><\/p>\n