Raoul Pal, known as a macro investment expert and former Goldman Sachs executive, took an important step in the cryptocurrency market and announced that most of his investment was in the popular altcoin Solana.
While making his final statements on the Bankless YouTube channel, Pal detailed the transformation in his altcoin strategy and his trust in Solana. According to Pal’s information, Solana now makes up a large portion of his portfolio, accounting for approximately 80%. This means that Pal concentrates the vast majority of his crypto assets on Solana. The remaining part includes assets mined from Ethereum. Pal stated that he is now making large investments in NFTs instead of Ethereum, and stated that he is especially focused on high-end art NFTs.
However, Pal appears to be pursuing other strategies to increase diversity in its altcoin portfolio. For example, he disclosed that he also invested in hedge fund Exponential Age Asset Management. There are multiple portfolios within this fund, and Pal aims to increase returns on various asset types.
In addition to Raoul Pal’s trust in Solana, another point that draws attention is the 1% portion in his portfolio. This section contains high-risk assets, especially meme coins and similar popular but volatile assets. While Pal is cautious about investing in such assets, he maintains Solana’s weight in his overall portfolio.
The former Goldman Sachs manager explained why he made such a large investment in Solana with the following words:
“The standout chart in 2022 was the Solana/Ethereum chart. And this was the chart that made me buy Solana and then invest everything. Just like I got into Ethereum in about September 2020.”
NEWS CONTINUES BELOW
Solana is trading at $133 at the time of this writing; This represents an increase of over 1,240% from the 2022 closing price of approximately $9.89. During the same period, Ethereum increased by nearly 155% from its 2022 closing price of $1,200 to its current $3,062.
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