Raoul Pal: Bitcoin Will SKYROCKET After This ENDS! Bitcoin Price Prediction 2021

Raoul Pal: Bitcoin Will SKYROCKET After This ENDS! Bitcoin Price Prediction 2021

But those fang stocks have outperformed and we all got it well. To be honest, we all got it wrong um and because we didn't understand that the more we got into crypto the more we started to understand, network effects and realizing that it applies okay. So what is coming down? The pike is something so extraordinary that i've just changed my entire macro framework based on it is thinking about this think about okay, what is the true denominator and realizing? Okay technology is outperforming crypto, and then you start thinking right. We'Ve just developed a mnr calling pronoun ever the vaccine. That has come in basically in two months, groundbreaking 20 years of work, but they basically cleared it through. Now that may clear, malaria and a whole bunch of others. People are working on cancer stuff using the same technology. Biotech is going to have money thrown at it

That'S one the other one is i was walking. I was writing a piece about carbon offsets in europe, which is a fantastic trade, and i writing that piece. I realized that the eu is basically going to reduce all its carbon emissions 65 in the next nine years right and it it's going to drive a massive green revolution and it's happening everywhere. It'S not just the eu and before it used to be oh, it's 20 years ahead. It'S now happening every car outside my window here in the cayman islands in 10 years time, it's going to be obsolete

That'S true, so think of the number of cars that have to be sold electric cars. Think of the technology that goes with electric cars, things like edge computing, localized networks. What does 5g fit into this 5g is being rolled out around the world, so everybody has access to super data now anywhere that doesn't have 5g is getting star link and the other ones that you know: elon, musk, starlink right so basically you're about to connect the Entire planet, with free data in the next five years, everybody you're then going to give them the whole crypto world of digital banking, digital money stores of value. All of that you're going to then be able to distribute computing power across massive networks distributed computing like we do with cloud that increases the computing power for science, and i mean it goes on and on and on we've got autonomous driving autonomous cars. I mean that's coming in the next five years. I think somebody between tesla or google is going to get that across the line

Sure it'll be for amazon delivery vehicles first or whatever. So we've got a ton of these technologies. I'Ve only listed some of them that are all coming out in the next five years. They'Re. All none of these are ideas now they're all products, they're all happening the internet of things. All of this is happening so we're going to go probably through the largest change in human history of technology in the shortest period of time, and everything has network effects. None of these are new products. These are new ways of how we create productivity. We'Ve also got the metaverse the digital world. I think the metaverse itself can double the size of global gdp because it's like discovering the americas again, it's a whole new world where you can earn money own real estate do investing create businesses live essentially, okay, so you've doubled the size of the world

People don't get their heads around the size of what is happening, and you know and crypto's part of that picture, and it's all happening right now. So i've now thought that the advantage the millennials have is they understand this they're, not cynical macro people who think the world is mean, reverting they kind of understand, adoption effects um and if they can, they can invest around it. This is why i wrote that tweet about kathy wood people don't understand. She'S got every one of these things. She'S got every one of these themes and the old men railing at the internet are going it's a bubble. They'Re illiquid stocks - i don't care. Kryptos are liquid. What you've got here is she's chosen pretty much every right theme that is going to be truly transformational, not in 20 years, i'm not in tennis now for the next five years. So the probability of her hitting smoke sure some of these won't work, but her hitting a home run here is enormous and nobody can see it because everybody's too cynical because they believe in a mean, reverting world and we don't live in a mean, reverting world any Longer we live in the exponential age yeah i mean, and to some degree those tech stocks were what have you know, carried everything along dragged along the rest of the stock market on the way up during this entire correction, and they are arguably as good of inflation

Hedges as bitcoin and yes, they are well bitcoins, outperformed them, but still they're, very good they've outperformed, the balance sheet, and all of that, so the easiest way to check to head check is this a network, adoption style story or not? It'S just simply. Log. Do a log chart so as we do in crypto right, we're so used to it. But we don't think of it in stock market terms because we used to mean reverting. But if you just put a chart of amazon on the log chart or facebook, they're, perfect they're, just perfect network adoption models, they're exactly the same as bitcoin, exactly the same as ethereum they're all the same thing, which is they're just network models, it's brilliant! What'S up guys if you've been following me literally for more than five minutes and you don't live under a rock, then you've probably heard me talk about voyager, which is where i invest and trade bitcoin and other assets

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It'S funny you talk about uh the cars outside your window. I have a six-year-old daughter and i'm a huge tesla fan, and she asked me the other day she's like well. When am i gon na learn to drive dad and i said, never you're not gon na drive. Your driver's license is 10 years away. Everybody will be in uh, just like you said i mean every car will be driving itself. She'Ll probably never drive a car. No right i mean that the notion seems absurd, but i think that that'll be the case even for 10 year olds and she may never work in the physical world. She may work in a virtual. She may never attend a physical university

I mean this is the magnitude of what is happening here. These are not kind of science fiction stories. I mean there was an amazing story of you know during lockdown, one of these um school teachers or university lecturers. I'M not sure what it was decided to hold his lectures in one of the metaverses and got the kids to go to attend there, and he found that it was very natural for them to do it. So and then they were interacting with each other because they could see each other's avatars and there's joey there and there's. You know tina over there, they'll chat to each other, and i'm like okay yeah, i mean everything has changed yeah, which is why, even though you know nfts like it could be argued to be in a bubble as far as price and the art side in some Of the use cases, when you really dig into what the future is, i i i don't see how the nft space does not continue to grow and absolutely explode, and not because of the art, but because you consider it as the currency of these metaverses that you Talk, about because you, you know you eliminate the middleman and there's no toll collector in the middle of these direct transactions with nfts