Ex-Hedge Fund Guru Bets Big On Dogecoin As ‘Core Crypto Bet’
16 Dezember 2024 - 3:30PM
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Raoul Pal, the former hedge fund manager who retired at the age of
36 and now serves as the co-founder of Real Vision, a prominent
financial media company, has given an update on his crypto
portfolio. In a post on X today, December 16, Pal unveiled his
concentrated investment strategy, highlighting Dogecoin as a
central component of his crypto portfolio. Raoul Pal Stills Bets
Big On Dogecoin “I have concentrated bets. This is my watch list. I
won’t be the best performer and I won’t be the worst. Outside of
this I just scrape profits to buy NFT’s for the long haul,” Pal
stated in his announcement. The accompanying screenshot detailed
his watch list, which encompasses a range of cryptocurrencies
including Bitcoin, Ethereum, Solana, Dogecoin, SUI, DeepBook
Protocol, and Smoking Chicken Fish. When queried by a user about
his thesis for Dogecoin, Pal responded, “It’s outperformed BTC by
500% since 2013… and Elon/X.” This statement underscores his
confidence in Dogecoin’s long-term potential, especially because of
the connection to Elon Musk. Musk has been hinting at integrating
Dogecoin into the payments feature of X, though no official
confirmation has yet been made. Recent activity and speculation
have been fueled by a tweet from Musk featuring a new dollar icon
on a user’s profile, which differs from the existing tipping
feature on X. This has led to increased speculation that Dogecoin
could be integrated into a forthcoming X Payments service. Related
Reading: Bull Flag Formation Puts Dogecoin Price As High As $2.15
This Cycle Previously, Musk had expressed intentions to use
Dogecoin for premium services on the platform, but initial
documents related to X Payments did not include crypto in its
launch phase. Nonetheless, Musk’s continued public support for
Dogecoin and his comments favoring its integration have kept hopes
alive within the Dogecoin community, one of the strongest
catalysts for DOGE price. Another user engaged Pal in a discussion
regarding Dogecoin’s future, stating, “I secured 100k DOGE thinking
next year when they implement Department of Government Efficiency
it will be constantly in the news circulation and may result in
subconsciously influencing the market trend. What do you think?” To
which Pal succinctly replied, “Just the start,” indicating his
belief that the headline for Department of Governance Efficiency
(DOGE) under the lead of Musk will have significant impact on
Dogecoin in the upcoming months. When asked about his investment in
the lesser-known altcoin DeepBook Protocol (DEEP), Pal explained,
“As Sui volumes scale, so does DEEP. Pretty simple beta play and
it’s still a low market cap,” highlighting his strategy of
targeting emerging projects with growth potential tied to scalable
blockchain solutions. In addition to his statements on X, Pal
recently shared his broader investment philosophy in an interview
with Mario Nawfal. He articulated his views on the cyclical nature
of liquidity injection into markets, driven by governmental debt
refinancing every four years. Pal elaborated: Related Reading:
Dogecoin Price Slump Looms, Analyst Points To Only One Lifeline
“Where are we in the four-year cycle? I break them down by seasons
each year being a different season […] Bitcoin usually leads in
spring and summer which is now and then Bitcoin dominance falls and
ALT season starts in a couple of months […] This is just an annual
sign when we go into the next fall or the Autumn cycle that’s
usually the most explosive beginning of next year.” Pal further
discussed the implications of these cycles on the crypto market,
suggesting that current conditions are setting the stage for an
“explosive” period in the upcoming cycle. He emphasized that the
persistence of these cycles hinges on the continued injection and
withdrawal of liquidity by governments, a dynamic he refers to as
the “everything code.” Notably, Pal addressed the concept of a
potential “super cycle” for Bitcoin and crypto markets, positing
that such an occurrence is improbable unless there is a fundamental
change in the underlying economic structures, specifically
regarding global debt and demographics. “I don’t see how that
happens, unless they break this everything code cycle of
liquidity,” Pal remarked. At press time, DOGE traded at $0.39447.
Featured image created with DALL.E, chart from TradingView.com
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