Following a controversial statement about Ethereum outperforming Bitcoin last week, former Goldman Sachs hedge-fund manager Raoul Pal is back to comment on Bitcoin volatility and why, ultimately, this is a good thing for consumers.
While many have feared currency volatility, Pal seems to embrace it arguing that the risk-reward nature of Bitcoin allowed it to drive a compounded annual return of 230%. “Volatility is your friend in this occasion”, he explained.
In 2021 alone, Bitcoin has gained 113% in value, which makes it one of the most desirable if somewhat risky assets to hold on to.
Despite the huge volatility of the asset, Pal was convinced that the currency's upsides outweighed any drawbacks.
Even better, more people and companies are getting involved, Pal said, adding: “Everybody is getting involved, is involved, or is in the due diligence process of doing it.”
He didn't miss the opportunity to note that Bitcoin was the best-performing asset class in all recorded history and said that whatever regulation is coming to oversee the crypto industry, it would have to be kept to a bare minimum.
In the meantime, Bitcoin has enjoyed strong adoption in entertainment despite the price swings. Bitcoin casinos have been quite popular with Bitcasino.io, 1xBit and FortuneJack all leading the way as the best places to gamble with BTC.