The post Raoul Pal Reveals Major Shift in Investment Strategy Towards Solana, Away From BTC, ETH appeared first on Coinpedia Fintech News
Raoul Paul, the CEO of Real Vision and a prominent financial analyst, has recently disclosed his investment strategy reflecting a drastic shift. Pal has shifted from Bitcoin and other Altcoins, relocating a staggering 90% of his liquid assets into Solana.
90% Of Pal’s Network Allocated To SOL!
In a recent video address, Pal explained his significant portfolio adjustment stating, “90% of my liquid network is basically allocated right now to Solana. I don’t have much Bitcoin right now. It doesn’t mean that I don’t like Bitcoin, I think the others go up more, simple as that.” Solana’s impressive market performance backs Pal’s optimistic outlook. Solana has surged approximately 75% year-to-date, outpacing Bitcoin and Ethereum’s gains of 58% and 42% respectively.
Pal had also compared Solana’s user experience to Apple’s ecosystem, highlighting its sleek design and efficient, closed system, although he stated Ethereum to be much broader, and much more open in terms of other things that can be built on top of it.
Franklin Templeton’s Solana ETF Endorsement
Adding to this, recently, a global asset management giant, Franklin Templeton had also endorsed Solana, sparking Solana ETF speculations. “Solana has shown major adoption and continues to mature, overcoming technological growing pains and highlighting the potential of high-throughput, monolithic architectures,” Franklin Templeton stated.
But, regulatory challenges might be a roadblock for Solana ETFs. For instance, the CME futures market, which the US SEC typically requires, is absent for Solana
Blackrock’s Comment Creates Uncertainty
However, a statement from an executive at the asset management firm has caused uncertainty. Robert Mitchnick, BlackRock’s head of digital assets, at the Bitcoin Conference on Thursday, commented on the success of the spot Bitcoin and Ethereum ETFs, but he also revealed that there is no much interest in crypto ETFs beyond Bitcoin and Ethereum.
He quoted, “Our client base today, their interest overwhelmingly is in Bitcoin first, and then somewhat in ETH… and there’s very little interest today beyond those two. I don’t think we’re gonna see a long list of crypto ETFs”.
Solana Could Hit $100B Market Cap!
As the crypto market sees an uptick in the second half of July, analysts are bullish on certain altcoins and, particularly, Solana SOL. Some experts believe that the market cap of Solana will hit the $100 billion mark in late August 2024.