Fun

Ex-Hedge Fund Guru Bets Big On Dogecoin As ‘Core Crypto Bet’

News Feed - 2024-12-16 11:12:44

Este artículo también está disponible en español.


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 1 day ago


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 3 days ago


“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. DOGE price holds above the EMA200, 4-hour chart | Source: DOGEUSDT on TradingView.com Featured image created with DALL.E, chart from TradingView.com

News Feed

Price analysis 7/22: SPX, DXY, BTC, ETH, BNB, SOL, XRP, TON, DOGE, ADA
Rakesh Upadhyay6 hours agoPrice analysis 7/22: SPX, DXY, BTC, ETH, BNB, SOL, XRP, TON, DOGE, ADADigital investment products are witnessing solid buying, but it may take a stronger trigger to propel Bitcoin to a new all-t
MicroStrategy S&P 500 listing ‘probably not’ coming despite stellar performance
Andrew Singer9 hours agoMicroStrategy S&P 500 listing ‘probably not’ coming despite stellar performanceInclusion could boost the industry. “Anyone that owns an S&P 500 Index fund will own Bitcoin once MSTR
Bitcoin, Ethereum Technical Analysis: BTC, ETH Marginally Higher as USD Weakens on Monday
Bitcoin, Ethereum Technical Analysis: BTC, ETH Marginally Higher as USD Weakens on Monday Following a red start to October, crypto prices moved marginally higher during Monday
Twitter Reveals ‘NFT Tweet Tiles’ in Order to ‘Impact’ the Social Media Experience
Twitter Reveals "NFT Tweet Tiles" in Order to "Impact" the Social Media Experience According to the social media company Twitter, the firm plans to launch a new feature called “N
Crypto in the UAE: TRES Was Approved by DMCC for OTC Trade License to Operate With Cryptocurrency
Crypto in the UAE: TRES Was Approved by DMCC for OTC Trade License to Operate With Cryptocurrency sponsored On photo left to right:Saif Al Mansouri – CEO TR
Political Parties in Thailand Voice Opposition to Government Plan to Tax Crypto Gains
Political Parties in Thailand Voice Opposition to Government Plan to Tax Crypto Gains As Thailand prepares to impose a levy on crypto profits, parties on both sides of the aisle ha
Brayden Lindrea21 hours agoSui Foundation denies it sold locked staking rewards on BinanceSui was accused of dumping locked and non-circulating staked SUI tokens on Binance.6247 Total views3 Total sharesListen to article
CMT-Verified Analyst Reveals When To Buy Bitcoin As Heikin Ashi Candle Turns Bearish
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Internet Service Company Cloudflare to Run Ethereum Validator Nodes as Part of Its Web3 Focus
Internet Service Company Cloudflare to Run Ethereum Validator Nodes as Part of Its Web3 Focus Cloudflare, an internet services and DDoS protection company, has announced a new stra
Helen Partz14 hours agoCrypto’s Lehman moment: Investors buy $250M of FTX claims — ReportIt’s hard to know how much a collapsed crypto firm like FTX would be worth by the time its bankruptcy is resolved.1749 Total
M2 money supply ‘holds the key’ for Bitcoin’s next move — Market analyst
Zoltan Vardai7 hours agoM2 money supply ‘holds the key’ for Bitcoin’s next move — Market analystThe growth of the money supply is historically correlated with previous Bitcoin price bull runs.2551 Total views28 T
US Financial Watchdog Fines Bitcoin Mixer Service for $60 Million
US Financial Watchdog Fines Bitcoin Mixer Service for $60 Million Larry Dean Harmon, founder and operator of early bitcoin mixing services Helix and Coin Ninja,