Bitcoin & Crypto & NFT News
Millionaire investor Raoul Pal has revealed how much he owns of bitcoin, a cryptocurrency that he has been known to actively promote in the past. In what was a shocking revelation, the CEO and founder of Real Vision posted his bitcoin holdings on Twitter, which turned out to be lower than everyone’s expectations. Pal disclosed that he only owned a measly 1 bitcoin.
Why Does Raoul Pal Only Own 1 Bitcoin?
The CEO got into a heated Twitter argument with Greg Foss after Foss insulted Pal. In a response to another user who defended the CEO saying they liked him, Foss explained that he was “just calling out the BS.” This is where Pal came into the conversation demanding to know what exactly it was that Foss was accusing him of as he’d like to know.
Foss continued on to explain that he did not agree with Pal promoting his trading mechanism to other traders who were less inclined to understand how it worked, pointing towards bond math. Pal however disagreed with Foss’s assessment, stating that he did not hold his views on bonds as a philosophy, rather just a mechanism which he uses to trade.
The argument continued on, eventually culminating in Pal stating how much bitcoin he owned, which it turns out is a single bitcoin. The founder and CEO of Real Vision explained that it was because of the bitcoin community’s approach to inclusion that led to this decision. Pal lamented the exclusion of others from the space who happen to share a different viewpoint from the accepted majority.
BTC price recovers above $43,000 | Source: BTCUSD on TradingView.com
“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 don’t share your view from the network,” said the CEO.
It eventually ended with Greg Foss conceding and acknowledging he was wrong to have attacked Pal in the first place. In a separate tweet, Foss tendered an apology to the CEO, stating that he regretted his actions.
Some times you pick a fight with the captain of the opposing team (cuz u are fed up and want to brawl)
That is rarely a smart move.
Tonite I chose that path and I regret my actions.
I apologize to @RaoulGMI
I made a rookie error. We have bigger battles to fight.
— Greg Foss 🇨🇦 (@FossGregfoss) January 20, 2022
Not Completely Out From Crypto
Despite his views on the bitcoin community, Raoul Pal has not entirely ruled crypto. Even bitcoin has not been completely ruled out as evidenced by his tweet stating that he does own one BTC. However, Pal has moved on to other things in the crypto space. Given his comments not too long ago, the CEO is now more bullish on ethereum compared to bitcoin.
Pal noted back in November that he expected ethereum to continue to outperform bitcoin given its performance in previous months. The millionaire investor still holds a well-rounded bullish view on bitcoin but expects ethereum to be the better investment of the two going forward.
A month before this, Pal had received that he made the biggest personal position of his life in ethereum. He explained that he is long the digital asset which he placed at the $20,000 mark by the second quarter of 2022, less than six months away from now.
Featured image from iGaming.org, chart from TradingView.com