Raoul Pal: Bitcoin's Long-Term Value Unfazed by Market Volatility

Raoul Pal, founder of Real Vision, has been in the cryptocurrency industry for 13 years and has made almost every mistake possible. He entered the market when Bitcoin was priced at $200 in 2013, having written a macro valuation analysis for Bitcoin that concluded it could reach $1 million if it became digital gold.

Pal recommended buying Bitcoin to his GMI subscribers, including hedge funds and family offices, and initially set a target price of $100,000 with a 10% discount. He later sold at what seemed like an unbelievable number due to Fear, Uncertainty, and Doubt (FUD) but missed out on tenfold gains.

Pal now believes that Bitcoin is a vault for value storage, with its total supply permanently locked at 21 million and no committee vote to increase it. He argues that it's the hardest money ever created by humanity and serves as a store of value layer.