- Raoul Pal says that “every one of the massive hedge funds you’d expect” is involved in cryptocurrency
- The asset class is now “real and meaningful” to hedge funds
- Public declarations of interest are the tip of the iceberg, with almost all conversations happening in private, says Raoul Pal
Raoul Pal, the co-founder and CEO of financial media outlet Real Vision and cryptocurrency enthusiast, has told a panel at The Crypto Gathering virtual conference that “every one of the massive hedge funds you’d expect” is involved in cryptocurrency, even though they may not have gone public. He added that all the big names in the hedge fund world finally see cryptocurrency as something “real and meaningful” and public reticence to comment about cryptocurrencies was not reflective of the private discussions taking place.
Raoul Pal Says Hedge Funds Have Finally Come Round
Raoul Pal made the statement in discussion with Mike Novogratz, Mark Yusko, and Anthony Pompliano in the first panel event at Real Vision’s virtual crypto conference The Crypto Gathering, where the quartet discussed how the traditional financial world was treating cryptocurrencies.
The tone was nothing but bullish, with the group agreeing that the current geopolitical environment was almost tailormade for cryptocurrency and Pal adding that the actions of individuals such as Paul Tudor Jones in publicly declaring his support for Bitcoin was reflective of a changing trend:
“What’s happened is one by one, everybody has said ‘all of the opportunities added together in macro are less than this one thing (cryptocurrencies), and that’s why I’m doing it. Dan Morehead was the first to really see that but one by one they’re all going, and if they’re not doing it publicly, this is the conversation they’re having privately…”
Crypto Now “Real and Meaningful” to Hedge Funds
Raoul Pal added that “so many of the billionaire, large hedge fund managers, have got groups of people managing their assets in crypto” and that, in contrast to a few short years ago, “they think of it as something real and meaningful”, although many are yet to go public. This public silence is not reflective of activity however, with Pal adding that, “Almost every one of the massive hedge funds you’d expect are already involved.”
The Crypto Gathering concludes today with Raoul Pal and other Real Vision hosts in conversation with Dan Morehead, Ari Paul, Changpeng Zhao, Vinny Lingham, and more.