Former Goldman Sachs boss Raoul Pal thinks Ethereum will be much more interesting to institutional customers after Merge.
The hard fork of Ethereum’s transition from Proof of Work to Proof of Stake is expected to take place around September 15. There is an exciting anticipation in the market regarding Merge. Like many people, Raoul Pal thinks that after Merge, this will reflect positively on the price. The last address Pal talked about was CNBC’s Money Talks.
Merge Will Reflect Positively on Ethereum Price
Raoul Pal, CEO of Real Vision, who participated in Abra’s Money Talks broadcast, told Abra’s founder and CEO Bill Barhydt that he thinks Ethereum Merge will reflect positively on the price. Pal included the following words in his speech:
“Many institutions did not like Bitcoin even though it was socially, environmentally and governance-wisely wrong. Proof of Work gets rid of that. Additionally, Ethereum currently has a payoff. This is something corporates will love. Now we will have to decide what to invest the assets in, namely, “I believe in Web3 technology. ‘So where will I allocate the money, Bitcoin?’ The answer to that will be Ethereum. Why? You will have a return of 6 to 10 percent. This is an incredible rate”
Pal explains the Ethereum Foundation Merge:
Merge represents the merging of Ethereum’s existing Mainnet with the new Proof of Stake consensus layer, the Beacon Chain. This will eliminate the need for energy-intensive mining and secure the network using staked ETH instead. In the beginning, it is important to remember that the Beacon Chain is sent separately from the Mainnet.
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