Ex-Goldman Sachs Executive Issues Bullish View on Crypto Sector May 1, 2023 May 1, 2023 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Bitcoin NewsMay 1, 2023 by Kelly Cromley

Ex-Goldman Sachs Executive Issues Bullish View on Crypto Sector

In addition to the continued long-term depreciation of the currency, Raoul Pal, a former executive at Goldman Sachs, forecasts that cryptocurrencies will eventually surpass almost all other asset classes. After the failure of First Republic Bank, Pal tweets to his nearly one million Twitter followers that it appears that the US will begin a new phase of money production to pay off its enormous debt.

The creator of Real Vision claims that for most people, relying on wage hikes or prudent saving may not be enough to prevent the negative effects of currency devaluation. Due to the decrease in the denominator caused by the mutualization of debt payments and rescues among the 99%, the value of the assets possessed by the 1% increases.

Incomes and revenues are unrelated to the balance sheet. They don’t perform well enough. If you do nothing, you will become impoverished. Owning assets essentially entails delaying consumption for a later date. As a consequence, having fewer assets will make you less successful in the future. Pal claims that only “high-quality crypto” and technology stocks can endure the anticipated currency devaluation. Only premium cryptocurrencies and technology equities outperform this devaluation. Cryptocurrency has the largest beta to global central bank balance sheets by a wide margin.

No credit, gold, real estate, bond yields, or emerging market (EM) stocks. All of them base their operations on or below the central bank’s balance accounts. You have the option to reject participation in this fraudulent debt mutualization game. This was largely the motivation for Bitcoin, and because of its fractionalization, anybody may use it. Ethereum offers a greater yield.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.