Former Goldman Sachs executive Raoul Pal revealed on social media that he is “currently irresponsibly long in ETH”, even adding leverage to his position in the leading altcoin project by market cap.
Comments from ex-Goldman Sachs executive on leading altcoin Ethereum
In a tweet, the former Goldman Sachs executive stated that he owns BTC and “a lot of other cryptos.” However, when a user asked Raoul about his ETH position, he sometimes said “you want to take a risk” and explained that he is long on ETH. Pal said this is the largest personal position he’s ever held, and he could hold that position for six to nine months. cryptocoin.com As we reported, Pal said that based on Metcalfe’s Law, he thought that ETH went to $20,000 this cycle.
Earlier this week, Raoul Pal noted that there are still similarities in the performance of ETH this year and that of Bitcoin (BTC) in 2017. After the Altair Beacon Chain was successfully launched on the network, the price of Ethereum (ETH) hit an all-time high above $4,400 this week, with 98.7 percent of nodes updated. Altair’s upgrade to Beacon Chain marks another step towards the network’s transition to a Proof-of-Stake (PoS) consensus algorithm. ETH is changing hands at $4,342 at the time of writing.
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