Renowned macroeconomics expert and former Goldman Sachs executive, Raoul Pal, recently discussed his cryptocurrency holdings in a candid interview with the Bankless YouTube channel. Pal revealed that the majority of his crypto investments are concentrated in Solana (SOL), a direct competitor to Ethereum. He disclosed that approximately 80% of his digital assets are allocated to Solana.
“I am 80% SOL. All my ETH has been converted into NFTs (non-fungible tokens), specifically high-quality art NFTs. I also have a 1% allocation in speculative assets like dogwifhat, Dogecoin, and Bonk. I dabble in everything, but it’s only 1%… just to clarify, it’s a small portion of my portfolio,” explained Pal, showcasing a diversified strategy that includes digital collectibles and meme coins.
Alongside his significant investment in Solana, Pal expressed an interest in more traditional digital investments, such as hedge funds linked to digital asset management, which form another substantial part of his portfolio.
Pal’s decision to heavily invest in Solana was not arbitrary. He explained that his choice was influenced by a comparative analysis of price charts between Solana and Ethereum throughout 2022. “The chart that caught my attention in 2022 was the Solana/Ethereum chart. It prompted me to buy Solana and go all-in, just like I did with Ethereum back in September 2020. I simply acted earlier with Solana,” shared the former executive.
Pal’s confidence in Solana appears to be well-founded, considering the crypto asset’s impressive performance. Currently trading at $133, Solana has witnessed a staggering increase of over 1,240% from its closing price of approximately $9.89 at the start of 2022. In comparison, Ethereum has also experienced a significant, albeit more modest, gain of around 155% over the same period.
Disclaimer: The opinions expressed by the author or individuals mentioned in this article are solely for informational purposes and should not be construed as financial or investment advice. Investing or trading cryptocurrencies carries the risk of financial loss.
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