“If you’re going to buy cryptocurrency, buy Ethereum,” says ex-Goldman Sachs
Former Goldman Sachs Executive and Real Vision CEO Raoul Pal said Ethereum (ETH) is the clearest and surest bet in the cryptocurrency industry. For him, neither Bitcoin (BTC) nor the other thousands of cryptocurrencies available on the market are as good as ETH.
That’s because, according to Pal, the highest altcoin in market value currently offers the best risk-reward ratio:
“If you could only have one cryptoactive in the next 12 months, which would it be? It would be Ethereum. Because it’s the least risky with the biggest rewards.”
To justify his position, Pal noted that upcoming ETH upgrades will reduce the supply of the second-largest digital asset on the market. Consequently, this will “massively” increase network usage.
As highlighted by the executive, the hard-fork London, scheduled for August, will make ETH deflationary. After all, the Ether transaction fees will either be burned or deposited in a long-term mining reservoir.
Additionally, Pal believes the upcoming transition from Proof of Work (PoW) to Proof of Participation (PoS) will make Ethereum more environmentally friendly.
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From these two updates, the use of the smart contract network will be much higher than that of Bitcoin. Furthermore, there will be many applications to face “the new challenges of the century”.
Real Vision’s CEO also predicted that institutions will invest in ETH as these updates take place. That way, they may even lose interest in Bitcoin.
“Looks like we’re going to have a double bomb. The repeat of 2013.”
Finally, Pal revealed that he increased his exposure to Ethereum while reducing his exposure to Bitcoin. Now, he estimates that 55% of his current portfolio is in ETH, 25% in BTC and the remaining 20% diversified among other cryptocurrencies.
Pal also stated that 100% of its liquid assets are invested in cryptocurrencies, as this will be the majority investment for the very near future.