Recently, former Goldman Sachs executive Raul Pal explained why he expects the market cap of cryptocurrencies to hit around $300 trillion in the next 10-15 years.
Prior to founding Global Macro Investor (GMI), a macroeconomic and investment strategy research service, in 2005, he worked for GLG Partners (now known as “Man GLG”), a global wealth management firm. , co-managed the GLG Global Macro Fund in London. Prior to that, he worked at Goldman Sachs, where he co-managed the European hedge fund distribution business in the Equities and Equity Derivatives division. He is currently CEO of Real Vision, a financial and business video channel he co-founded in 2014.
In the April 2020 issue of the GMI newsletter, Pal explained why he believes Bitcoin, which he called “the future,” could one day have a $10 trillion valuation. In that issue, Pal said the idea of a $10 trillion valuation for Bitcoin wasn’t so crazy.
“After all, it is neither just a currency nor a store of value. It is a fully trusted, verified, and secure financial and accounting system of digital value that can never be created outside of cryptographic algorithms…it is the future of the entire medium of our exchange system, as well as money itself and the platform. Nothing but. it works.“
Pal’s comments about the crypto space were part of an interview he gave on the Sept. 29, 2020 episode of the YouTube series “Google TechTalks.”
according to report According to The Daily Hodl, Pal told show host Raphael Hyde:
“All major Web2 players are involved. Everyone in the financial system is involved. They’re cautiously moving forward due to regulatory issues, so you don’t really see it. I personally have never seen anything like it. It’s a bit like the Internet, only it’s fast-paced and really wide-ranging, and it sounds crazy, but that’s because those protocol layers are worth it.
“So there is this massive value increase. Compared to the current situation, the asset valuation of digital assets can be said to be $1 trillion. Well, almost all traditional asset markets are between $200 trillion and $300 trillion each.“
On July 3rd, Pal spoke about why he’s excited about the new Web3-focused business he recently co-founded, ScienceMagic.Studios.
science magic studio describes itself as a “digital asset venture studio” that advises and implements “the creation of digital assets (such as NFTs and social tokens) and the web3 economy for brands, talent and their communities”.
Its three founders are David Pemsell, former CEO of Guardian Media Group. Kevin Kelly said, “He is the co-founder of Delphi Digital, a leading research and consulting firm focused on web3 and digital assets, and he is a partner at Delphi Ventures, the firm’s investment arm.” and Raul Pal.
as a block report On June 14, 2022, the company “raised $10 million in pre-seed funding” from an impressive array of backers, including Coinbase Ventures, Digital Currency Group and Liberty City Ventures.
On July 3, 2022, Real Vision’s CEO took to Twitter to explain what his new company plans to do.
He went on to say:
- “Our mission is to leverage NFTs, Social Tokens and the Metaverse to tokenize the world’s largest cultural community, including music, fashion, film/book/TV franchises, sports, and more, to build community, utility and experience. That’s it.“
- “There are $63 trillion in intangible assets on corporate global balance sheets. Tokenization turns brands and communities into something tangible, sharing utilities and networks with communities. This could be the biggest business model shift in a very long time.“
- “We’ve been hinting at this for a long time! This is one of the biggest opportunities in Web 3, helping big brands transition to Web 3 the right way. We are already talking to some monumental people/brands. Really, really exciting!“
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