Raoul Pal Hints at AI Stock Pause Fueling Crypto Growth
Real Vision co-founder Raoul Pal has outlined a scenario where a pause in artificial intelligence (AI) stocks could benefit crypto markets. He views this as a second-best outcome because it would allow investors to reallocate capital between different market themes. A weaker U.S. dollar would further support this shift, though Pal is not yet convinced the necessary conditions are in place. “If they can engineer the dollar lower, then we get a green light for further movement in crypto,” Pal said.
A sharp decline in AI stocks, however, could have the opposite effect if it signals broader market liquidity drying up. Pal emphasized that market stability depends on ample liquidity, stating, “Things don’t go bust if liquidity is plentiful.”
Pal also expects AI agents to increasingly use smart contract networks, such as Ethereum and Solana, for transactions. He believes this could drive more activity on these platforms over time. “My guess is they’ll get more adoption over time as AI uses them,” he said.
The 10-year Treasury daily par yield was noted at 5.29% on Sept. 30, 2026, providing context for U.S. borrowing costs as investors assess market conditions.