In a conversation in New York last week with Carly Reilly, host of the “Overpriced JPEGs” podcast, Raoul Pal, a macroeconomic expert and former Goldman Sachs executive, stated that retail investors have a unique opportunity to acquire crypto assets ahead of institutional investors. Pal emphasized that this is the first time retail traders have the chance to own the foundational layer of a new asset class before large institutions step in. He noted that this is not mere speculation; he has firsthand knowledge from conversations with institutional investors who are planning to enter the market.
Pal explained that traditional venture capital (VC) investments are usually restricted to accredited investors with significant capital, leaving ordinary people at a disadvantage. In contrast, the crypto market offers a more democratic entry point, allowing retail investors to participate in early-stage projects that could yield high returns.
Discussing the risk profile of digital assets, Pal drew parallels with traditional financial markets. He described a “risk curve” that investors typically follow, starting with safer assets like treasury bills and gradually moving to riskier options. In the crypto world, this curve often starts with Bitcoin and progresses to Ethereum and other projects as investor confidence grows. Pal also compared Ethereum’s bustling ecosystem to the U.S. economy, contrasting it with Bitcoin, which he likened to Switzerland—a place primarily for storing wealth.
According to Pal, understanding that crypto functions as its own economy can offer valuable insights. He pointed out that Ethereum is emerging as a significant player in this digital economy, much like the U.S. in the global economic landscape.
Pal, who is the CEO of Real Vision, has been vocal about his bullish stance on Solana ($SOL) throughout this year. On October 20, in a thread on social media platform X, Pal emphasized that Solana has seen a remarkable 171% surge in its value this year alone. He further indicated that the digital currency is nearing a crucial inverse head and shoulders formation, with a significant price point at $30. If Solana manages to surpass this threshold, Pal believes the next substantial resistance level could be around $50.
Besides focusing on Solana’s performance in relation to the US dollar, Pal also drew attention to its gains when pitted against Ethereum (ETH).
Adding to his optimistic view, Pal mentioned that Solana has even outshined Bitcoin (BTC) in performance, reinforcing his positive sentiment for the digital asset.
Wrapping up his social media discussion, Pal suggested that Solana has the potential to be a key player in shifting the cryptocurrency landscape from what he labeled as “Crypto Spring” to “Crypto Summer” by the year 2024.