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Raoul Pal, a former hedge fund manager who retired at the age of 36 and now works as co-founder of Real Vision, a prominent financial media company, provided an update on his cryptocurrency portfolio. In a mail On X Day, December 16, Pal revealed his focused investment strategy, highlighting Dogecoin as a staple of his cryptocurrency portfolio.
Raoul Pal is betting big on Dogecoin
“I’ve placed bets. This is my watchlist. I won’t be the best performer and I won’t be the worst. Outside of this, I’m only taking profits to buy NFTs for the long term,” Pal said in his announcement. The accompanying screenshot shows his watchlist, which It includes a range of cryptocurrencies including Bitcoin, Ethereum, Solana, Dogecoin, SUI, DeepBook Protocol and Smoking Chicken Fish.
When a user asked him about his thesis on Dogecoin, Pal replied: “It has outperformed Bitcoin by 500% since 2013…and Elon/X.” This statement underscores his confidence in Dogecoin’s long-term potential, especially due to its association with Elon Musk.
Musk has hinted at integrating Dogecoin into X’s payments feature, though there’s no official confirmation yet. The recent activity and speculation was fueled by a tweet from Musk including a new dollar icon on a user’s profile, which differs from the existing tipping feature in X. This has fueled speculation that Dogecoin could be integrated into the upcoming X Payments service. .
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Previously, Musk expressed his intention to use Dogecoin for premium services on the platform, but initial documents related to X Payments did not include cryptocurrencies in the launch phase. However, Musk’s continued public support for Dogecoin and his comments in favor of its integration have kept hopes alive within the Dogecoin community, and is one of the strongest catalysts for DOGE’s price.
Another user engaged Pal in a discussion regarding the future of Dogecoin, saying: “I got 100k DOGE thinking next year when they implement government efficiency management, it will be in the news constantly and may subconsciously influence the market trend. What do you think?” “Just the beginning,” Pal replied succinctly, noting his belief that the Musk-led Department of Governance Efficiency (DOGE) headline will have a significant impact on Dogecoin in the coming months.
When asked about his investment in lesser-known altcoin DeepBook Protocol (DEEP), Pal explained, “As the volume of Sui increases, the volume of DEEP also increases.” “Very simple demo play and its market capitalization is still low,” highlighting his strategy of targeting projects Emerging companies with growth potential associated with scalable blockchain solutions.
In addition to his statements on X, Pal recently shared his broader investment philosophy on interview With Mario Novel. He expressed his views on the cyclical nature of liquidity injections into markets, driven by the refinancing of government debt every four years. Pal explained:
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“Where are we in the four-year cycle? I break it down by seasons each year being a different season (…) Bitcoin usually advances in the spring and summer and from time to time Bitcoin’s dominance wanes and the ALT season begins in a couple of months (…) This Just an annual indication of when we move into next fall or the fall cycle which is usually the most explosive at the beginning of next year.
Pal also discussed the implications of these cycles for the cryptocurrency market, noting that current conditions are setting the stage for an “explosive” period in the next cycle. He stressed that the continuation of these cycles depends on governments continuing to pump and withdraw liquidity, a dynamic he refers to as “the code of everything.”
It is worth noting that Pal addressed the concept of a potential “supercycle” for Bitcoin and cryptocurrency markets, positing that such an occurrence is unlikely unless there is a fundamental change in the underlying economic structures, especially with regard to global debt and demographics. “I don’t see how that’s going to happen, unless they break the liquidity cycle of everything,” Pal commented.
At press time, DOGE was trading at $0.39447.
Featured image created with DALL.E, a chart from TradingView.com