Former Goldman Banker Envisions Potential $1 Quadrillion Crypto Use-Case with Profound Industry Impact
Ex-Goldman Sachs Executive Raoul Pal Envisages Crypto Use-Case Valued at $1 Quadrillion Projected to Enter the Industry
"In a Recent Crypto Banter Interview, Macro Expert Raoul Pal Highlights BlackRock's Push for Bitcoin ETF as Catalyst for Blockchain Adoption"
During a discussion on Crypto Banter, Raoul Pal emphasizes the potential significance of BlackRock's pursuit of a Bitcoin exchange-traded fund (ETF). He believes that this move could lead to substantial capital inflows into crypto and blockchain platforms.
Pal states,
"BlackRock's action is pivotal not just for the ETF or flows, but for the broader financial industry. Institutions like BlackRock have been involved in crypto for some time now. Their willingness to invest and offer client access while building the infrastructure underlines their recognition of the technology's importance."
He continues, "The finance industry, encompassing derivatives worth around $1 quadrillion, could transition onto blockchains. Equities markets and other aspects could follow suit. The system of money and finance stands as a use-case that outshines others."
BlackRock, known for its high ETF approval rate, submitted a Bitcoin ETF application in July.
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Sep 05, 2023
