During a Twitter debate with Greg Foss, Raoul Pal said that the Bitcoin community has “lost its ability to fit in.” Accordingly, he claims that he currently owns only one Bitcoin.
Raoul Pal is a Goldman Sachs hedge fund manager and crypto investor who announced on Twitter that he only owns one BTC.
This information comes during his battle with “Bitcoin Strategist” Greg Foss, who claims to be “Bitcoin Strategist” on the social networking platform. Therefore, it is difficult to confirm whether this is accurate information or just an exaggeration about the amount of his BTC assets.
These two “strategists” both have a great influence on the cryptocurrency market in general and BTC in particular. Specifically, if Pal is the founder and CEO of Real Vision and Global Macro, Foss is an executive director at Validus Power Corp.
The revelation of his seemingly small holding caused an uproar and anger among true Bitcoin believers who have looked upon Pal’s suspicion ever since he began calling Ethereum the “biggest deal” and predicts that ETH and altcoins will eventually outperform BTC.
As is known, this strategist first bought BTC in November 2013. He then sold for a 10x profit in mid-2017 (missing out on an even bigger profit at the end of the year). that) before adding to his collection in 2019 to 2020. In May 2021, Pal also confirmed that he owns more ETH than BTC.
After some back and forth between Pal and Bitcoin maxi, Pal posted that people like Foss and the Bitcoin community’s xenophobia are the reason why he holds only one Bitcoin.
This annoyed the Bitcoin community, many of whom thought that he let emotions cloud his logic. Specifically, under a post on Bitcoin Meme Hub, one user Emanuel commented: “His emotions are damaging his own future.”
Synaptic Ventures founder Marc van der Chijs complained that the fact Pal owns only one BTC based on the make-up of the community and not on potential profits “goes completely against the gospel he preaches.” on RealVision.”
Some defend Pal, however, pointing to his impressive track record and reminding followers that he is in fact a trader, not a holder. Cryptocurrency analyst and founder of Crypto My Way “Coach T” wrote that he appreciates Pal’s “varied perspective and smart mindset.”
Foss and Pal .’s Twitter Competition
This argument appears to be in response to Pal’s disagreement about inflation and bonds as a medium of exchange. Foss explains that he is not in favor of Pal promoting his trading strategy to others who do not fully understand how it works.
Pal disagrees, explaining that his view of bonds is “a trade, not a philosophy.” Even so, in a later comment on the thread, Pal stated that he does not own any bonds.
Three hours after posting the original tweet attacking Pal, the controversy finally reached a climax when Foss posted an apologetic tweet saying he “regrets his actions”, adding that he “did make a rookie mistake” and he has “bigger battles to fight”.
Just a few weeks ago, Pal said that he believes there is a “reasonable chance” that the crypto market cap will grow 100-fold by the end of the decade. Hoping he’s right about that is probably something we can all agree on.
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