Real Vision founder and CEO Raoul Pal shares with his followers how much of his portfolio is dedicated to Ethereum and why he prefers an altcoin project over Bitcoin (BTC).
Raoul Pal: Everyone stakes for ETH 2.0
The former Goldman Sachs executive tells Real Vision’s 569,000 YouTube subscribers that he is optimistic about ETH as the total cash generated in the Ethereum ecosystem is about 100 times the rest of the space. He also argues that due to the various use cases of the leading smart contract platform, a demand shock could come to Ethereum. The Real Vision founder makes the following statements, specifically referring to ETH 2.0:
Ethereum has a limited supply due to the burning of ETH from gas fees. Everyone is staking their tokens for ETH 2.0, so the load on exchanges has been reduced. Then… there’s about $100 billion locked in DeFi, NFTs, and all of that. This leaves about 11% of Ethereum in the flow.
Raoul Pal continues with:
11% is all available Ethereum you can buy if you enter the market, and this demand shock is happening right before our eyes. There is no such thing in Bitcoin. Yes, there is a supply shock, and a bit of a demand shock, but it doesn’t have the network density that Ethereum has.
Raoul Pal dedicates 88% of his portfolio to the leading altcoin project
cryptocoin.com As we quote, Pal also explains his massive Ethereum allocation after he said on Twitter last week that he is “currently irresponsibly long in ETH”:
At least I am, probably now, I don’t know anymore because as I said in my tweet last night I bought some options. I’m probably 85% Ethereum.
According to CoinGecko, the second-largest cryptocurrency by market capitalization is trading at $4,442.47 at the time of writing, up more than 27% in the past month.
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