Real Vision CEO Raoul Pal thinks that the current geopolitical tension stemming from the Russian invasion of Ukraine will eventually show the real value of cryptocurrencies to the world.
In a new Real Vision video, the former Goldman Sachs executive explained how the war and the corresponding international political policies have affected what cryptocurrency means to people around the world:
but it’s a distributed network that everyone has, in which case it’s almost priceless.”
Pal also says that the current turbulent price action of the crypto market reminds him of the pandemic price crash of March 2020. He points out that the crash involved a dramatic sell-off and yet failed to make a new low against prices 18 months ago. Then the cryptocurrency market started to rise the following year.
CEO of Real Vision explains that today’s market looks pretty similar right now.
“We didn’t break a new low – we waged war on crypto, we lifted Chinese bans, we went through all kinds of things, we saw 8% inflation. And crypto hasn’t made a new bottom so I guess there’s a signal there but we still need to watch it. I think the crypto situation is getting interesting as people start to realize at the sovereign level that this is the solution for them too. And the rise of central bank digital currencies, the move away from the SWIFT system, it’s all coming into this space.”
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