Crypto experts Raoul Pal and Anthony Scaramucci on Thursday discussed market volatility, macroeconomic trends and why digital assets still have a bright future.
What Happened: In a wide-ranging conversation on his podcast, Pal reassured investors about recent market turbulence, noting that 30% drawdowns are common in crypto and often present buying opportunities: “You should be thinking of these sell-offs as a gift,” Pal stated.
He emphasized that the current economic cycle, with inflation declining and liquidity increasing, typically favors crypto assets.
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On the impact of ETFs, Pal suggested recent net inflows indicate growing investor understanding among investors about crypto’s role in combating the erosion of purchasing power.
Scaramucci added, “The regulatory reformation has led to people saying it’s acceptable for me to buy these products.”
They also discussed Solana‘s SOL/USD potential, with Pal projecting a possible price range of $800 to $2,500 by the end of the current cycle.
Looking further ahead, he made a bold prediction: “I think this space goes from $2 trillion today to $100 trillion by 2032-2034,” adding, “That would be the largest, fastest accumulation of wealth in all of human history.”
The conversation touched on various other topics, including NFTs. Pal emphasized, “NFTs are probably the most powerful technology in the whole crypto space,” predicting their widespread adoption across industries.
What’s Next: Scaramucci concluded with a political note, saying if the Democrats maintain an anti-crypto stance, “One thing that will be on the autopsy report is their lack of openness to the crypto industry.”
Overall, both experts conveyed optimism about the long-term prospects of crypto, encouraging investors to maintain perspective despite short-term volatility.
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This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo: Courtesy of CoinDesk on Flickr
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