Raoul Pal puts crypto above the ‘baby boomer game’ to build wealth

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Raoul Pal, a former Goldman Sachs executive, said the cryptocurrency with a market capitalization of $1 trillion is only 1/200th the size of the global stock market, but has one of the best chances for a young person to make future wealth.

What happened: Pal told his 992,000 Twitter followers to identify long-term investing themes with secular tailwinds, as well as potential opportunities that could outpace currency depreciation over time .

According to Pal, with current investment stocks, young investors are finding it increasingly difficult to make real profits, and quantitative easing (QE) and other monetary policies have only made the situation worse. .

Trying to play the baby boomer game (income/real estate/S&P 500) is simply unlikely to generate the required returns, Pal said.

See more: Best Crypto Day Trading Strategies Pal believes crypto has the potential to bridge that gap, along with tech stocks (The Exponential Age) or secular trends such as India. He added that while you can trade on these assets, it rarely yields the desired result. Thus, the only way is to invest for the long term.

This comes at a time when Bitcoin BTC/USD broke above the $23,000 level and Ethereum ETH/USD is trading above $1,600.

Read Next: Bitcoin, Ethereum, Dogecoin Spike Amid Risk-On Rebound: Analyst Sees Apex Crypto Breach $24,000 If It Happens

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