Ex-Hedge Fund Guru Bets Big On Dogecoin As Core Crypto Bet
Raoul Pal, the former hedge fund manager who retired at the age of 36 and now serves as the co-founder of Real Vision, a prominent financial media company, has given an update on his crypto portfolio. In a post on X today, December 16, Pal unveiled his concentrated investment strategy, highlighting Dogecoin as a central component of his crypto portfolio.
Raoul Pal Stills Bets Big On Dogecoin
I have concentrated bets. This is my watch list. I wont be the best performer and I wont be the worst. Outside of this I just scrape profits to buy NFTs for the long haul, Pal stated in his announcement. The accompanying screenshot detailed his watch list, which encompasses a range of cryptocurrencies including Bitcoin, Ethereum, Solana, Dogecoin, SUI, DeepBook Protocol, and Smoking Chicken Fish.
When queried by a user about his thesis for Dogecoin, Pal responded, Its outperformed BTC by 500% since 2013 and Elon/X. This statement underscores his confidence in Dogecoins long-term potential, especially because of the connection to Elon Musk.
Musk has been hinting at integrating Dogecoin into the payments feature of X, though no official confirmation has yet been made. Recent activity and speculation have been fueled by a tweet from Musk featuring a new dollar icon on a users profile, which differs from the existing tipping feature on X. This has led to increased speculation that Dogecoin could be integrated into a forthcoming X Payments service.
Previously, Musk had expressed intentions to use Dogecoin for premium services on the platform, but initial documents related to X Payments did not include crypto in its launch phase. Nonetheless, Musks continued public support for Dogecoin and his comments favoring its integration have kept hopes alive within the Dogecoin community, one of the strongest catalysts for DOGE price.
Another user engaged Pal in a discussion regarding Dogecoins future, stating, I secured 100k DOGE thinking next year when they implement Department of Government Efficiency it will be constantly in the news circulation and may result in subconsciously influencing the market trend. What do you think? To which Pal succinctly replied, Just the start, indicating his belief that the headline for Department of Governance Efficiency (DOGE) under the lead of Musk will have significant impact on Dogecoin in the upcoming months.
When asked about his investment in the lesser-known altcoin DeepBook Protocol (DEEP), Pal explained, As Sui volumes scale, so does DEEP. Pretty simple beta play and its still a low market cap, highlighting his strategy of targeting emerging projects with growth potential tied to scalable blockchain solutions.
In addition to his statements on X, Pal recently shared his broader investment philosophy in an interview with Mario Nawfal. He articulated his views on the cyclical nature of liquidity injection into markets, driven by governmental debt refinancing every four years. Pal elaborated:
Where are we in the four-year cycle? I break them down by seasons each year being a different season [] Bitcoin usually leads in spring and summer which is now and then Bitcoin dominance falls and ALT season starts in a couple of months [] This is just an annual sign when we go into the next fall or the Autumn cycle thats usually the most explosive beginning of next year.
Pal further discussed the implications of these cycles on the crypto market, suggesting that current conditions are setting the stage for an explosive period in the upcoming cycle. He emphasized that the persistence of these cycles hinges on the continued injection and withdrawal of liquidity by governments, a dynamic he refers to as the everything code.
Notably, Pal addressed the concept of a potential super cycle for Bitcoin and crypto markets, positing that such an occurrence is improbable unless there is a fundamental change in the underlying economic structures, specifically regarding global debt and demographics. I dont see how that happens, unless they break this everything code cycle of liquidity, Pal remarked.
At press time, DOGE traded at $0.39447.
Read more: https://www.newsbtc.com/news/ex-hedge-fund-guru-dogecoin-core-crypto-bet/
Text source: NewsBTC
