JAKARTA - Former Goldman Sachs executiveja said cryptocurrencies would surpass almost all other asset classes in line with the continued weakening of the currency in the long term.
Pal told nearly a million Twitter followers that after the fall of First Republic Bank, it looks like the US will enter a new chapter of printing money to be able to serve a huge debt.
Real Vision founders warn that most people will not be able to avoid the negative effects of weakening the currency by hoping to get a raise or being wise in saving.
"As a result, debt payments and bailouts are actually mutualized between 99 percent while asset owners 1 percent see their asset value increase (due to a decrease in numerators)," said Pal.
Income is not related to balance sheets, as well as income. They are under performance. Doing nothing and getting poorer. After all, assets are delayed consumption in the future, so if you have fewer assets, your future is poorer," he continued.
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Pal said that "high-quality cryptocurrencies" and technology stocks are the only assets that will have the ability to surpass the weakening of the currency he predicts.
Only two assets go beyond this weakening: technology stocks and high-quality cryptocurrencies. Crypto has the highest beta on the global central bank balance sheet. Not property, not gold, not SPX, not bond yields, not EM equity, not credit. They all appear in line with the central bank balance sheet, or below it," said cap. Pal.
Pal emphasized that cryptocurrencies and technology stocks are the only assets that have the ability to outperform the weakening of currencies as he predicted.
One example of this cunning debt game you can get out on your own... Bitcoin is literally created for this and because of the fractionalization, it's available to anyone. Even Ethereum offers additional yields," added Pal.
He also warned that not everyone can avoid the negative effects of weakening the currency in hopes of a smart raise in salaries or savings. Therefore, he suggests considering investing in cryptocurrencies and high-quality technology stocks to protect asset value and profit in the long term.
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