© Reuters. Raoul Pal Makes Epic Comparison of Bitcoin (BTC) to Legacy Assets
U.Today – Legendary trader Raoul Pal has doubled down on (BTC) after making an epic comparison of the coin to some legacy assets. On his official X account, Raoul Pal shared a Bitcoin price chart showing a 110% annual return coming from “doing nothing.”
The top analyst also showed the Nasdaq's annual returns, pegged at around 21% for doing nothing. While he initially noted rhetorically that achieving the goal was not easy, he later acknowledged how easy it is to achieve Bitcoin's massive rise when placed next to the Global Total Liquidity Index GMI (the global debasement of fiat money).
With major currencies losing value over time, Bitcoin's appeal has come to light. Raoul Pal took a direct swipe at Bitcoin critics, who believe a bet on the currency “will end in tears.” He noted that the same narrative has been in place for almost a decade as critics argue that “correlation does not equal causation.”
Raoul Pal is confident in Bitcoin's ability to continually challenge the norm as he believes the digital currency will continually experience exponential growth while conventional legacy assets impose financial repression.
Bitcoin (BTC) bullish thesis grows
In addition to Raoul Pal, many other experts have discussed Bitcoin's ability to grow over time, versus traditional assets.
While it maintains some forms of correlation with it at one point, there has been a decoupling in recent months, with Bitcoin now acting on internal factors such as the emergence of spot Bitcoin exchange-traded fund (ETF) products.
Top investors like Samson Mow see Bitcoin price breaking above the $1 million benchmark in the near term, and other veterans like Ark Invest's Cathie Wood and SkyBridge Capital's Anthony Scaramucci are also confident in the coin's ability to keep growing.
This article was originally published on U.Today.
