Investor Raoul Pal To Liquidate All Gold to BTC and ETH, Backs Crypto Regulations

Published November 30, 2020 | Updated November 30, 2020

Bitcoin-Grypto-Regulations

Investor Raoul Pal To Liquidate All Gold to BTC and ETH, Backs Crypto Regulations

Investor Raoul Pal who’s very popular among the crypto circles has made a big revelation recently. On Monday, November 30, Pal plans to liquidate all his Gold holdings and put it all at work by buying Bitcoin (BTC) and Ethereum (ETH). This speaks volumes about the confidence that Pal holds in the future rally and earning potential with the two cryptocurrencies.

The proceeds of all his gold-liquidated-cash will go into BTC and ETH in the ratio 80:20. Interestingly, Pal mentions that this is 98% of his liquid net worth.

Pal’s revelation comes within a day of Guggenheim Partners’ files with the SEC to invest in Bitcoin via the Grayscale Bitcoin Trust (GBTC). Grayscale is a regulated digital assets manager allowing investors to gain exposure to cryptocurrencies through investment vehicles. The Grayscale Bitcoin Trust (GBTC) is its biggest investment product holding over 500K BTC worth over $9 billion of assets under management.

In one of his other tweets, Pal also asks the crypto community to make peace with the upcoming regulations. The inherent nature of cryptocurrencies gives investors freedom from regulatory scrutiny. However, if one expects institutional players to participate in Bitcoin and crypto, regulations are likely to follow them. Thus, crypto investors shall be prepared for the trade-off and rather enjoy the rewards without worrying about taxes.

Global Care Capital Exploring Opportunites in Crypto and Blockchain

Vancouver-based public listed company Global Care Capital is exploring new opportunities in crypto and blockchain. It notes that the company has already set up “research procedures” and “due diligence” in order to tap new investment opportunities in the blockchain and crypto sectors. The official press release states:

“The initiative by the company to evaluate crypto currency and blockchain investment opportunities is a reflection of its focus on innovative new markets. The company is moving forward to explore exciting new opportunities in crypto currency and blockchain and hopes to find additional investments in the near future”.

Many crypto analysts are betting big on massive institutional money coming into Bitcoin in 2021. The quantitative easing and massive stimulus by the Federal Reserve ins likely to drive inflation higher. Thus, institutions are likely to put extra cash at work and Bitcoin serves as the best inflation hedge. The Guggenheim’s filing with the SEC notes that it planning to invest nearly $500 million in Bitcoin i.e. 10% of its $5 billion worth Macro Opportunities Fund.

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Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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Bhushan Akolkar 713 Articles
Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
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