Former top banker is fully committed to Solana rival

Macro guru and former top banker Raoul Pal reveals that his capital is currently in the market at quite a risk. In a new interview with Crypto Banter, Raoul Pal shares that 90 percent of his capital is in crypto hedge funds, Solana, NFTs and layer-1 blockchain Sui.

Why does Raoul Pal invest in Sui?

In the podcast, Raoul Pal explains why he is currently investing in Sui. The bottom line is that he wants to take risks, to possibly ride the emergence of a potentially large new layer-1 blockchain.

“Sui is very interesting, has super high quality people on board and is a fantastic project,” says Raoul Pal. Within Sui’s team there are a lot of people who come from Facebook.

Furthermore, Pal explains why he is an investor in Solana and crypto hedge funds. “Solana is like the Ethereum of the last cycle. Further along the risk curve are the hedge funds, with which we take full risk, because it is now altseason.”

We have to see about the latter, because at the moment it is mainly Bitcoin that is doing the talking. Thanks to the Spot Bitcoin ETFs, bitcoin is still the big boss on the market.

From bitcoiner to shitcoiner

Raoul Pal’s adventure in the crypto world started with bitcoin. Which he quickly became a big supporter of. However, he then became distracted and started investing in Ethereum and other altcoins, mainly because he believes that much higher returns can be achieved there.

That is true in certain cases, but it obviously also entails more risk. While Bitcoin has a clear and valuable application, namely as a store of value, this does not yet apply to Ethereum and all other altcoins.

Ethereum still has to prove itself and the so-called “killer app” of the blockchain is not yet available. The only thing really happening there is people within the DeFi ecosystem betting on altcoins and trading NFTs.

Of course, that cannot be the trillion-dollar application that many people envision for the smart contract platforms. Something has to come out that is more tangible to justify the high ratings and especially the high expectations.