Institutional money will increase BTC to $ 250k in a year, according to macro investor
Macro investor Raoul Pal thinks the latest Bitcoin rally is the beginning of the institutional investor-led bull market. The investor says that institutional money can increase Bitcoin to $ 250,000 in a year.
According to Raoul Pal, founder and CEO of Global Macro Investor and Real Vision, it seems possible for Bitcoin to reach $ 150,000 by November 2021. Pal thinks Bitcoin could even see $ 250,000 due to the large amount of institutional money currently flowing into the Bitcoin market.
According to Pal, this is what makes the latest Bitcoin rally fundamentally different from the crypto boom of 2017, which is believed to be driven mainly by retail investors.
According to Pal, most of Bitcoin’s additional supply is currently being absorbed by PayPal, Square – which has recently adopted crypto services – and Grayscale. He believes the resulting supply squeeze is the catalyst for Bitcoin’s recent surge.
Pointing to the macroeconomic factors in Bitcoin’s favor, Pal said:
“I’ve never seen another market with this supply and demand imbalance before.”
While news about the coronavirus vaccine is a hope for a rapid economic recovery, it is thought that governments will need to issue additional monetary incentives to sustain their economies. This will lead to the devaluation of fiat, according to Pal. He believes that this combined with low interest rates will push Bitcoin’s price to new highs.
“This changes life. No other being has an advantage like 5, 10, 20 times in a short time.”