- Raoul Pal has disclosed that the majority of his cryptocurrency portfolio is Ether. Only 25 percent is Bitcoin.
- He also predicted that Ether and Bitcoin would reach $20,000 and, fair enough, $350,000 before the year-end.
Long-time cryptocurrency advocate Raoul Pal predicts that the price of the leading cryptocurrency, Bitcoin (BTC), might reach $250,000 to $400,000 by the end of the year, or fair enough, March 2022. The former hedge fund manager and investment strategist made this known during the recent podcast session with Bankless.
Raoul Pal now holds more Ethereum than Bitcoin
As of November last year, a significant percentage of Raoul Pal’s crypto portfolio was dominated by Bitcoin (at least 80 percent). Fast forward to today, the allocation has changed a lot. According to him, about 55 percent of his crypto holdings are Ether, and only 25 percent is Bitcoin. Pal said he is even contemplating reducing the Bitcoin position to five percent.
Raoul Pal’s interest in Ethereum follows the rising demand for ETH, as well as the constantly declining supply of the coin across centralized exchanges. He said:
“There’s tons [of ETH] that have gone into just holding, tons that are locked up in DeFi, tons that are locked up in NFTs, and you’re left with, as of today, 11% of the entire supply of Ether available and it’s going down every day. And the demand is going exponential. The only outcome is an exponential rise in price, there’s no other outcome.”
$20K Ether, $250k to $400k Bitcoin, Raoul Pal predicts
Raoul Pal predicted that Ether could reach as high as $20,000 before 2022 and that Bitcoin could see around $250,000 to $400,000 by the year-end or fairly March 2022.
These price levels seem far-fetched, given there are only four months left to 2022. However, Pal mentioned that BTC usually goes up 5x – 10x within three months and that even 5x from Bitcoin’s all-time high will bring in over $300,000 “very normal rally” for the end of the year. He also said that the launch of a US Bitcoin ETF this year and imminent massive dollar printing “is enough to drive Bitcoin to $350,000.”