Former Goldman Sachs Exec says majority crypto assets will die
Raoul Pal shared his stance on the ongoing hype and trend of the crypto assets and noted that it will not remain forever for the majority of the crypto assets.
Raoul Pal is a Macro Guru and Real Vision CEO and also was an Executive at Goldman Sachs in the past. Recently he appeared in an interview with Scott Melker. In the interview, he talked about the trendy things, which are creating huge hype in the crypto industry to create more excitement to go with projects.
Former Goldman Sachs noted that all crypto projects will result in nothing, whether they will prove or be considered better than Ethereum or bitcoin. Nothing will work because people will come to know the actual thing themselves.
” no longer good enough just to be a faster, cheaper alternative to Ethereum, or whatever it may be – more private than Bitcoin.”
Pal noted that if any crypto blockchain will move faster toward adoption to provide cheap transactions and better speed then surely that project may not move toward the decentralized nature. For such projects there is a better need in the securities market. Such things are common for securities markets, where people do high volume trade instead of looking at decentralized things.
“if you’re fast and you’re not super decentralized and you’re very cheap, then you’re very useful for the securities industry because they have massive volume and they don’t care about decentralization.”
In this way, Pal indirectly pointed out the Solana protocol, which facilitates high-scale transactions with low decentralized nature.
Further Pal said that all other crypto projects still have room to evolve and operate services and also these bunch of tokens are not enough to push adoption of this crypto industry.
Pal said:
“It’s just the same as a VC portfolio where you understand that a bunch of these firms just won’t get traction, and that’s okay.”
According to Pal, if crypto market adoption will be slow even for the next 7 years then still crypto Market Cap valuation will touch around $200 trillion worth.
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