Raoul Pal Shares His 'Paper Hand' Drama From 2017
11/23/2024 22:30
Macro economist Raoul Pal, CEO of Real Vision platform, tells what happened to his early Bitcoin (BTC) purchasing
Raoul Pal, global macro investor and CEO of Real Vision platform, purchased $200,000 worth of Bitcoin (BTC) in 2013. Here's what happened with this massive stake — and when Pal predicted $100,000 for BTC for the first time.
Real Vision CEO shares his dramatic story about selling BTC
Investor and economist Raoul Pal purchased Bitcoin (BTC), the largest cryptocurrency, back in 2013. He spent $200,000 on the orange coin 11 years ago. In 2013, the largest cryptocurrency soared from $13 to $754, historical data says.
I bought $200k of $BTC back in 2013 and paper-handed it at $2,000 in 2017 but was pretty pleased with myself (it went on to 10x further in 2017!). If I'd had just kept that initial trade on its own, I'd have turned that one position into $100m today. 🤦♂️
— Raoul Pal (@RaoulGMI) November 22, 2024
As Pal shared with his 1 million followers on X, he sold this BTC allocation in 2017 when Bitcoin (BTC) reached $2,000. He was "pleased" with the outcome of the deal despite BTC surging 10x further in 2017.
Bitcoin (BTC) reached a cycle peak in mid-December 2017 at about $19,450. This 2013-2017 run was the first mainstream rally of cryptocurrency markets.
Also, Pal admitted that he published his first-ever macro review of the Bitcoin (BTC) price when it was at $200. He leveraged the Stock-to-Flow model and compared Bitcoin (BTC) to Gold. The forecast spelled $100,000 as the minimum target price for the crypto king.
In turn, his own Bitcoin (BTC) stake would have been surging to $100,000,000 in 2024, the macro analyst says.
As covered by U.Today previously, Pal is sure that altcoins will outperform Bitcoin (BTC) in the starting bull run. In particular, he is bullish on Solana (SOL) and Sui (SUI).
Related
At the same time, he remains a "1,000%" believer in Bitcoin (BTC) and its future, he said responding to Michael Saylor's tweet.
Bitcoin DCA monster with diamond hands finally becomes millionaire
In the last 30 days, Bitcoin (BTC), the first cryptocurrency, added 50%. Yesterday, on Nov. 22, 2024, it routinely set a new ATH one step from $100,000.
A pseudonymous crypto expert who goes by Rego The Trader celebrates the anniversary of his Bitcoin DCA challenge. For eight years in a row, he was buying $15 worth of BTC every 12 hours. In total, he spent about $86,500 and never sold.
— rego • (@regothetrader) November 9, 2024UPDATE: BITCOIN DCA JOURNEY
It has now been nine months since I've last updated our progress on my personal daily Bitcoin buys. We are approaching the 8 year anniversary of consistently buying Bitcoin every single day, at the same exact time, regardless of the price it trades… https://t.co/2S1GRLpF3f pic.twitter.com/gdyhZqclBE
He shared his inspiring story on X, recalling the crucial milestones of his venture. At the current prices, his Bitcoin (BTC) stake is worth over $1.15 million.