Ethereum (CRYPTO: ETH) is now the largest part of the portfolio of the former hedge fund manager of Goldman Sachs (NYSE: GS), Raoul Palwho said he might end up with all of his Bitcoin (CRYPTO: BTC) stocks will sell.
Pal, who is currently CEO of the on-demand financial TV channel Real vision is, said on Monday in an interview with Bankless in a podcast.
Recalling the changes he’s made to his portfolio since appearing on the podcast nine months ago, Pal revealed that his portfolio is now 100% cryptocurrency.
The investment strategist said he did sold its gold holdings and started to increase its ETH allocation.
His portfolio currently consists of 55% ETH and 25% BTC. The rest is made up of other coins, including social tokens, metaverse, and other longer-term macro bets.
“I’m following the chart of the BTC-ETH cross very closely and I think it will explode up again soon so that I might end up selling all of my bitcoin,” said Pal.
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In the interview, Pal is very optimistic about the two largest coins by market capitalization.
Pal cited a target price of $ 250,000 to $ 400,000 for BTC by March 2022, based on the prospect of an exchange-traded fund and central bank money printing – whether that happens or just gossip.
For ETH, Pal predicted a price of $ 20,000 by March 2022 due to the popularity of decentralized finance or DeFi and not fungible tokens or NFTs. Pal’s predictions are based on his analysis of past charts.
Doubled on Tuesday Anthony Scaramucci, CEO of SkyBridge Capital, his optimistic prediction that BTC will hit $ 100,000 later this year.
BTC is up 63.70% since the start of the year, while ETH is up 376.63% over the same period.
At press time, BTC was trading 0.83% higher at $ 47,425.92 in 24 hours. ETH traded 9.27% higher at $ 3,530.92 over the same period.
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