Bitcoin

Epic

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
Legendary trader Raoul Pal has doubled down on his support for Bitcoin (BTC) after making an epic comparison of the coin with some legacy assets. Taking to his official X account, Raoul Pal&nbsp;<a href="https://twitter.com/RaoulGMI/status/1754208207239585898" rel="noopener noreferrer nofollow">shared</a> a Bitcoin price chart that shows an annual return of 110% that comes from "doing nothing."
The top analyst also showcased the annual returns on the Nasdaq, pegged at about 21% from doing nothing as well. While he initially noted rhetorically that achieving the goal was not easy, he went on to acknowledge how easy hitting the massive Bitcoin surge is when placed side by side with the GMI Total Global Liquidity Index (the global fiat debasement).
<blockquote>
 Maybe it really is this easy? BTC vs GMI Total Global Liquidity Index (global fiat debasement)... <a href="https://t.co/xlLA47ZXUk" rel="noopener noreferrer nofollow">pic.twitter.com/xlLA47ZXUk</a>— Raoul Pal (@RaoulGMI) <a href="https://twitter.com/RaoulGMI/status/1754208212906131540?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">February 4, 2024</a>
</blockquote>
With major currencies sliding in value over time, the attractiveness of Bitcoin has come to light. Raoul Pal threw a direct jab at&nbsp;<a href="https://u.today/peter-schiffs-unexpected-bitcoin-etf-prediction-ridiculed-by-cardano-founder" rel="noopener noreferrer nofollow">Bitcoin critics,</a> who believe a bet on the coin will "end in tears." He noted that the same narrative has been ongoing for almost a decade now as critics argue that "correlation doesn't equal causation."
Raoul Pal is confident in the ability of Bitcoin to continually defy the norm as he believes the digital currency will continually see exponential growth while mainstream legacy assets print financial repression.
<h2 id="bitcoin-btc-bullish-thesis-grows">Bitcoin (BTC) bullish thesis grows</h2>
Besides Raoul Pal, many other experts have argued about the potency of Bitcoin to grow over time, against traditional assets.&nbsp;
While it maintains some forms of correlation with the Nasdaq 100 at a time, there has been a&nbsp;<a href="https://u.today/bitcoin-btc-volatility-drops-to-historic-low-turbulence-coming" rel="noopener noreferrer nofollow">decoupling over the past few months,</a> with Bitcoin now acting on internal factors like the emergence of spot Bitcoin Exchange Traded Fund (ETF) products.
Top investors like Samson Mow see the price of Bitcoin&nbsp;<a href="https://u.today/bitcoin-to-hit-1-million-in-days-says-samson-mow-but-theres-catch" rel="noopener noreferrer nofollow">surpassing the $1 million benchmark</a> sometime soon, and other veterans like Ark Invest’s Cathie Wood and SkyBridge Capital’s Anthony Scaramucci are confident in the ability of the coin to keep growing as well.

Raoul Pal Makes Epic Bitcoin (BTC) Comparison With Legacy Assets

Table of Contents

U_Today

Other articles published on Feb 5, 2024

NuggetRush Gains Traction Among Stellar (XLM) and Blur Communities Amidst Market Fluctuations

Is the U.S. heading for economic collapse? Jereme Powell’s warning decoded

LUNC price record flash dump, this might be the reason

NuggetRush Presale Excites Investors as Cardano (ADA) and Polygon (MATIC) Show Mixed Signals

Vitalik Buterin Calls Friend.Tech Bad DeFi Amid Its Fall In 4 Months

Polygon’s zkEVM Awaits Major Exciting Update; Promising Memecoin Venture Takes Center Stage

Join our free newsletter for daily crypto updates!