Bitcoin Is Best-Performing Asset in History: Raoul Pal
Renowned investor and cryptocurrency expert Raoul Pal has offered a big counterargument to the Financial Times. The mainstream news outlet has taken a jab at cryptocurrency, issuing traditional and rather outdated accusations against it.
Pal argued back at FT, standing firm with Bitcoin and mentioning its ultra-high market performance.
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Raoul Pal strikes back at FT crypto criticism
In his tweet, Pal shared a screenshot from an FT article, which urges investors to turn to “boring” assets and cash, “which has resumed yielding a real income after allowing for inflation.”
This article slams crypto, saying that only “madcap gamblers, money launderers, and fraudsters” diversify into to it.
Paul responded to that statement, saying that the FT is “doing its typical thing.” He reminded everyone who reads his tweets that “bitcoin is the best performing asset in all history.” Pal rebuked the FT in failing to understand US dollar debasement and failing to understand how cryptocurrency works, likening their criticism to “angry old men who shake their fists at clouds…”
Robert Kiyosaki touts Bitcoin ETF with one big exception
Financial guru and book author Robert Kiyosaki, famous for his classic book on financial management, “Rich Dad Poor Dad”, published a tweet where he spoke well of Bitcoin exchange-traded funds (ETFs), probably for the first time. Until now, he has always criticized them as opposed to real Bitcoin. However, even when praising Bitcoin ETFs sounded like a big exception made by him.
The thing is, he admitted that ETFs “make investing easier for the average investor”. However, he mentioned ETFs that are based on his favorite assets – Bitcoin, gold, and silver – as positive choices. Yet, he added, “an ETF is like having a picture of a gun for personal defense.”
He believes it is much better to stack real Bitcoin, gold, and silver: “Sometimes it’s best to have real gold, silver, Bitcoin, and a gun.”