Raoul Pal, a renowned macroeconomics expert and former Goldman Sachs executive, has made surprising revelations about his cryptocurrency portfolio in a recent interview with the Bankless YouTube channel. According to Pal, the majority of his crypto investments are focused on Solana (SOL), a direct competitor to Ethereum. He disclosed that around 80% of his digital assets are allocated to Solana.
“I am 80% SOL. All my ETH has now been converted into NFTs (non-fungible tokens). I have been purchasing high-quality art NFTs. And I have 1% invested in speculative assets like Dogecoin and Bonk. I have a bit of everything. But that’s just 1%… to clarify, I have only allocated 1% of my portfolio to memecoins and similar investments,” explained Pal, showcasing a diversified strategy that includes digital collectibles and memecoins, although they make up a small portion of his portfolio.
In addition to his significant investment in Solana, Pal expressed an interest in more traditional investments in the digital space, such as hedge funds associated with digital asset management, which also represent a substantial part of his investment portfolio.
The decision to heavily invest in Solana was not arbitrary. Pal revealed that his choice was influenced by a comparative analysis between Solana and Ethereum throughout 2022. “The chart that caught my attention in 2022 was the Solana/Ethereum chart. And that was the chart that convinced me to buy Solana and go all-in. Just like I got into Ethereum around September 2020. I simply did it earlier with Solana,” shared the former executive.
Pal’s confidence in Solana appears to be well-founded considering the impressive performance of the crypto asset. Currently trading at $133, Solana has experienced a staggering increase of over 1,240% from its closing price of approximately $9.89 at the beginning of 2022. In comparison, Ethereum also saw a significant, albeit more modest, increase of around 155% during the same period.
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The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment, or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.