Wait, what? Former Bitcoin bull Raoul Pal only owns one Bitcoin?

Former Goldman Sachs hedge fund manager and cryptocurrency bull Raoul Pal claimed in a tweet that he now only owns a single Bitcoin (BTC).

As the claim was made in the heat of a Twitter fight with self-proclaimed “Bitcoin strategist” Greg Foss, it’s not entirely clear whether it’s an exaggeration or an accurate statement about his holdings. Pal is the founder and CEO of Real Vision and Global Macro, while Foss is an executive director at Validus Power Corp.

The revelation of his apparently small holding certainly caused uproar and angst among Bitcoin true believers, who’ve looked at Pal askance ever since he started calling Ethereum “the greatest trade” and predicted that Ether (ETH) and altcoins will eventually outperform BTC.

Fascinating to see that since inception ETH has outperformed BTC by 250%. It only fell below its initial price in BTC for the first 5 months of its existence in 2015.

Let that put rest to the idea that all other tokens trend towards zero in BTC terms. pic.twitter.com/ulCpsjG8up

— Raoul Pal (@RaoulGMI) April 7, 2021

Pal first purchased BTC in November 2013. He sold for a 10x profit in the so-called “fork-wars” of 2017 (missing out on an even bigger gain later that year) before adding to his collection in 2019 through 2020. In May 2021, he confirmed that he owned more ETH than BTC. At the time of writing, Bitcoin is worth $40,925.

The barney was instigated by Foss, who tweeted “Raoul is soft” followed by another intellectual tweet “Raoul sucks and blows” shortly after. After some back and forth between Pal and the Bitcoin maxi, Pal posted that people like Foss and the Bitcoin community’s exclusionary ideology are why he only holds 1 BTC.

And that is your issue. I don’t share your philosophy, so you attack me? Really? This is why I hold only one bitcoin, the community has lost sight of inclusion and you sir, are helping reduce the network effects by excluding people who dont share your view from the network.

— Raoul Pal (@RaoulGMI) January 20, 2022

This upset the Bitcoiner community, many of whom claimed he had let emotion cloud logic. “His feelings are hurting his future,” commented one user Emanuel Moinhos in a reply to a Bitcoin Meme Hub tweet. “I knew when he started to sip Vitalik’s coolaid he was a goner,” added user Jalan Foster.

Synaptic Ventures founder Marc van der Chijs complained that the fact Pal only owns 1 BTC based on the makeup of the community and not on the potential return “goes totally against the gospel he preaches on RealVision.”

However, some defended Pal, pointing to his impressive track record and reminding followers that he is in fact a trader, not a holder. Crypto My Way founder and crypto analyst CoachT wrote that he appreciates Pal’s “diverse views and intelligent thinking.”

Foss vs. Pal: A Twitter feud

It appears that the argument was in response to a disagreement on Pal’s stance on inflation and bonds as a trading vehicle. Foss explained that he didn’t support Pal promoting his trading strategy to others who don’t entirely understand how it works.

Pal disagreed, explaining that his views on bonds are “a trade, not a philosophy.” Despite this, in a following comment on the thread, Pal claimed that he doesn’t own any bonds.

Ok, lets do math. If Im right and bonds can rally 20% in 12 months (just use TLT) that is faster than the balance sheet expansion, thus its a net win to your purchasing power. If you hold bonds to maturity you lose. Issue?

— Raoul Pal (@RaoulGMI) January 20, 2022

Three hours after posting the original tweet attacking Pal, the argument eventually culminated in Foss tweeting an apology saying that he “regrets his actions,” adding that he “made a rookie error” and that he has “bigger battles to fight.”

Related: Raoul Pal says ‘reasonable chance’ crypto market cap could 100x by 2030

Just weeks ago, Pal said that he believes there is a “reasonable chance” that the crypto market capitalization will have increased 100 times by the end of this decade. Hoping he’s right about that is perhaps something on which we can all agree.

Cointelegraph reached out to Raoul Pal via Real Vision and will update the story with any response.

Note: This article have been indexed to our site. We do not claim legitimacy, ownership or copyright of any of the content above. To see the article at original source Click Here

Related Posts
Mihály Varga revealed how fast the Hungarian economy could grow in 2021 thumbnail

Mihály Varga revealed how fast the Hungarian economy could grow in 2021

MTI 2022. január 09. 08:48 Varga Mihály példaként említette, hogy az idei évtől adómentességet kapnak a 25 év alatti fiatalok a négy- vagy több gyermeket nevelő édesanyákhoz hasonlóan. Szólt arról is, hogy a családoknak idén komoly segítséget jelent majd a 2021-ben befizetett szja-befizetések utáni visszatérítés, a szociális hozzájárulási adó további jelentős csökkentése pedig a munkaadóknak…
Read More
Retail sales volume increased by 16.3% thumbnail

Retail sales volume increased by 16.3%

Perakende satış hacmi, kasım ayında yıllık yüzde 16,3 arttı. Türkiye İstatistik Kurumu (TÜİK), 2021 yılı Kasım ayı perakende satış endeksleri verisini açıkladı. Buna göre, perakende satış hacmi yıllık yüzde 16,3 arttı. Sabit fiyatlarla perakende satış hacmi (2015=100) 2021 yılı Kasım ayında bir önceki yılın aynı ayına göre yüzde 16,3 arttı. Aynı ayda gıda, içecek ve…
Read More
아카마이, API 보안과 클라우드 통합하는 ‘네이티브 커넥터’ 출시 thumbnail

아카마이, API 보안과 클라우드 통합하는 ‘네이티브 커넥터’ 출시

온라인 라이프를 강력하게 지원하고 보호하는 클라우드 기업 아카마이 테크놀로지스가 API 보안(API Security)과 아카마이 커넥티드 클라우드(Akamai Connected Cloud)를 통합하는 새로운 네이티브 커넥터(native connector)를 발표했다. 새로운 네이티브 커넥터를 통해 기업은 아카마이 커넥티드 클라우드 트래픽 카피(copy)를 API 보안으로 직접 전송해 분석하고 공격을 신속하게 차단할 수 있다. 이로 인해 API 검색과 보안을 간소화할 수 있다. 루페시 초크시 아카마이 애플리케이션
Read More
New Orlando Resort Debuted The Most Over-The-Top Kids Suites thumbnail

New Orlando Resort Debuted The Most Over-The-Top Kids Suites

These hotel rooms are a kid's dream.Villatel Orlando Resort Orlando, Florida, is a place where dreams come to life. Known for its world-famous theme parks like Walt Disney World, Universal Orlando, and the eagerly anticipated Epic Universe theme park set to open in 2025, it's a wonderland for families worldwide. But nestled among these giants
Read More
They urge the Legislature to comply with the marijuana law thumbnail

They urge the Legislature to comply with the marijuana law

Ven falta de voluntad política Junta Internacional de Fiscalización de Estupefacientes, en contra de legalizar enervante en México. Rolando Ramos y Maritza Pérez 10 de enero de 2022, 00:00 A seis meses de que el pleno de la Suprema Corte de Justicia de la Nación (SCJN) dictó la declaratoria general de inconstitucionalidad que elimina la…
Read More
Index Of News