Raoul Pal Targets $250,000 Bitcoin, Points To Currency Debasement As Reason: 'You're A Wage Slave'

Macro guru Raoul Pal on Monday projected that Bitcoin BTC/USD could soar to as high as $250,000, Ethereum ETH/USD could reach between $15,000 and $20,000, and Solana SOL/USD might climb to between $750 and $1,000 within the next 18 months.

What Happened: In a discussion hosted by Skybridge Capital founder Anthony Scaramucci, Pal shared his insights into the transformative potential of digital assets and the macroeconomic factors driving their adoption.

Pal emphasized the unique value proposition of Bitcoin and blockchain technology: "This was an asset that you can own outside of the financial system that has value," he explained.

The discussion highlighted the systemic issues plaguing the global financial system, including excessive debt and the debasement of currency by central banks.

Pal pointed out the stark reality facing the average citizen, "You're a wage slave and you can't buy a house... because they're debasing the currency."

He explained that inflation acts as a hidden tax that most people do not fully understand. While asset prices and stock markets have risen for some, the average person struggling to afford basic needs sees no benefit.

This scenario, according to Pal, underscores the importance of digital assets as a means of preserving wealth and ensuring recorded ownership in an increasingly digital world.

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Why It Matters: Looking ahead, Pal shared his price predictions for key cryptocurrencies, suggesting that Bitcoin could reach as high as $250,000, Ethereum between $15,000 and $20,000 and Solana between $750 and $1,000 in the next 18 months.

These projections are based on the continued adoption of digital assets, the potential impact of ETFs and the unique advantages offered by platforms like Solana, which boasts a faster smart contract network.

Pal and Scaramucci discussed the potential for cryptocurrencies to offer a solution to the erosion of wealth caused by the policies of central banks and governments.

Pal argued that with cryptocurrencies, everyday retail investors can participate in and benefit from the growth of a global, decentralized infrastructure in the same way as large institutional investors.

However, the underlying debt problems and incentives for governments and central banks to issue more debt have not been solved, suggesting inflation and interest rates will continue to rise in the long run, he said.

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