Reason Not to Buy Bitcoin Revealed by Raoul Pal to Michael Saylor

Raoul Pal, former Goldman Sachs executive and prominent crypto enthusiast, shared insights into his current crypto investment strategy, which led to a rather interesting back-and-forth with Michael Saylor, CEO of MicroStrategy and a big supporter of Bitcoin.

Pal shared that his main crypto bets are Solana (SOL), which he sees as the “main game,” Sui (SUI), which he is betting will continue to do well, and meme coins like Smoking Chicken Fish (SCF) and Dogecoin (DOGE). In addition, the trader mentioned that he is also focusing on cultural NFTs as part of his long-term portfolio.

Michael Saylor responded to Pal’s post, noting that Bitcoin misses him, suggesting that Pal is less focused on the leading cryptocurrency.

I love BTC and 1,000% believe in it and it’s future, but my job is optimal capital allocation at this point in my life and that mean aggressive risk taking which is what I do for a living . I’m not a rich as you…

— Raoul Pal (@RaoulGMI) September 27, 2024

Pal’s response was that he does not have the same financial standing as Saylor, and while he still believes in Bitcoin’s future, his current role requires him to take risks and invest in other assets. He explained that he is now focused on generating the highest returns, which means investing in riskier assets and moving away from a Bitcoin-centric strategy.

“I’ve done fine”

The post drew criticism from Bitcoin supporters, particularly those who questioned his promotion of “sh*tcoins,” prompting Pal to share some insights into his vision for cryptocurrencies.

Thus, he revealed that he was an early Bitcoin investor, buying his first BTC when it was priced at $200. Pal then claimed that he has outperformed Bitcoin since his initial investment and continues to prioritize returns over loyalty to any particular crypto asset.

In another branch of this debate, Raoul Pal emphasized that the only goal is to generate profit while contributing to the growth of Web3 and clarified that there is no Ethereum (ETH) in his portfolio aside from NFTs.

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