Raoul Pal
@RaoulGMI • 1,401,079 subscribers
Founder/CEO Global Macro Investor, @RealVision. Figuring things out at the nexus of Macro, Web3 & the Exponential Age. Not a guru.
Shorts
Videos
The next economy won't be visible to humans. AI agents will transact, settle, and coordinate value at machine speed, and the only rails built for that are crypto. In this episode of The Journeyman, I explain why the major layer 1s aren't just crypto infrastructure. They're the coordination substrate for an invisible economy that's already being built. As ever, please enjoy!
Raoul Pal115,904 görüntüleme • 6 gün önce
Wall Street is moving onchain. The question isn't if. It's which infrastructure wins. I sat down with Vivek Raman and dannyryan from Etherealize to talk about Ethereum's role in tokenization, stablecoins, AI agents, and the regulatory path ahead. As ever, please enjoy!
Raoul Pal422,762 görüntüleme • 1 ay önce
Shooting the Shit with Julien Bittel, CFA is normally for Alpha members only. This one we're opening up. We go through global liquidity, crypto regulation, AI, compute, stablecoins, and why the old business cycle framework is losing power as the exponential age accelerates. As ever, please enjoy!
Raoul Pal141,878 görüntüleme • 20 gün önce
When AI agents have wallets, treasuries, and profit motives, the TAM of finance becomes infinite. I sat down with Yoni Assia of eToro to explore the future of finance, where AI doesn’t just assist investors, but trades, builds, learns, and forms capital on its own, reshaping global markets into 24/7 machine-driven systems. As ever, please enjoy!
Raoul Pal151,590 görüntüleme • 1 ay önce
What happens when the paper your government issues is declared a biohazard? I sat down with Coldie to talk about crypto art, the impermanence of fiat, and why the most important artists right now are documenting the people deciding our future. As ever, please enjoy!
Raoul Pal66,361 görüntüleme • 27 gün önce
Michael Saylor on Real Vision: The interview that started it all for many in 2020. One of the most viewed interviews of all time and likely the first to explain the reason behind the wave of Bitcoin treasury companies... Enjoy! 00:00 Intro 05:00 Michael Saylor’s MIT roots & Air Force story 09:00 Founding Strategy $MSTR ('89) 16:38 Domain plays & early ventures 26:50 Embracing focus & stoicism 29:57 First #Bitcoin misstep & epiphany 36:24 Treasury cash strategy pre-COVID 45:01 Pandemic fuels virtual pivot 49:47 The currency war & asset inflation 59:21 Gold vs. Bitcoin as “hard money” 01:12:06 Choosing Bitcoin for the long haul 01:18:36 Why $BTC outclasses gold 1:27:12 Winning board & audit buy-in 1:43:38 Closing insights
Raoul Pal740,274 görüntüleme • 11 ay önce
What retains value after the Economic Singularity? Blockchain creates scarcity in a digital world! As I always say, art is upstream of all wealth... Art tells the stories of our times, and digital art stores these cultural memetics like we used to do since the cave painting era... Please enjoy a fantastic chat with one of the greatest living artists in the USA... the one and only Mark Wilson, aka diewiththemostlikes .die with the most likes
Raoul Pal303,813 görüntüleme • 4 ay önce
Due to popular demand, here is your guide to collecting digital art with the great batsoupyum... Enjoy!
Raoul Pal517,683 görüntüleme • 9 ay önce
Here's my recent talk at Sui Basecamp in Dubai—Enjoy! 00:00 - PALvatar introduces the episode 01:04 - Reframing the macro fear narrative 01:26 - The Everything Code and liquidity 01:51 - Debt cycles and macro structure 02:10 - Demographics, debt, and GDP 02:38 - Aging populations and GDP drag 03:00 - Liquidity as the real driver 03:25 - Fed balance sheet to total liquidity 03:50 - M2 and asset correlations 04:23 - Why the rich get richer 04:47 - Global tax via currency debasement 05:21 - Crypto as a generational opportunity 05:48 - Banana zones and BTC decoupling 06:13 - Bitcoin log regression and upside 06:37 - 850K $BTC and market cycles 06:56 - Debasement and asset returns 07:19 - Liquidity vs. traditional returns 07:48 - Why tech and crypto matter 08:10 - Bitcoin vs Nasdaq performance 08:38 - Crypto: best asset in history 09:03 - The "Don’t F*ck This Up" thesis 09:38 - Liquidity and the macro setup 09:58 - Volatility is the price for returns 10:31 - Tariffs, rates, and market lag 11:01 - Economic surprises and liquidity 11:37 - 2017 tariffs and liquidity boost 12:01 - Twitter narratives vs macro truth 12:24 - What assets lead market cycles 12:51 - Inventory buildup and Q1 GDP 13:12 - Philly Fed confirms thesis 13:31 - ISM and forward outlook 14:00 - #Bitcoin and DeMark analysis 14:21 - Trump cycle deja vu 14:38 - My Bitcoin trading mistake 14:57 - Dollar strength and the Trump pivot 15:16 - Why the dollar isn’t over 15:36 - A weak dollar lifts global growth 15:56 - The 2017 breakout comparison 16:18 - One of the best setups ever 16:40 - Global M2 and debt cycle 17:03 - Basel IV and monetary creation 17:25 - Liquidity cycles repeat 17:45 - Debt refi cycles and patterns 18:06 - Liquidity leads Bitcoin 18:29 - Banana Zone phases 18:50 - Global M2 vs BTC chart 19:09 - Breakouts and corrections 19:29 - The voodoo chart: M2 + BTC 19:50 - One-way street ahead 20:08 - China, the dollar, and liquidity 20:31 - Central banks printing 20:50 - Liquidity surge from all angles 21:14 - Correlation with BTC and Nasdaq 21:39 - The Everything Code plays out 22:03 - Business cycle and crypto 22:32 - Bitcoin and ISM outlook 22:54 - Bitcoin at 450K? 23:21 - Altseason and business cycle 23:48 - Earnings, spending, and risk 24:16 - Altcoins = risk curve 24:40 - ISM >50 = big signal 25:06 - Everyone's fearful at the bottom 25:35 - Bearish sentiment at extremes 26:03 - Institutions still not in 26:29 - Indicators signal reversals 26:56 - Bitcoin corrections are normal 27:18 - The 2017 rollercoaster 27:42 - Technicals: #Solana & $SUI 28:00 - Sui charts breaking out 28:28 - Sui vs $SOL: faster horse 28:50 - $DEEP: top performer 29:16 - Ecosystem growth & excitement 29:45 - Market reacting to the vision 30:07 - Follow liquidity, not noise 30:27 - RSI and breakouts 30:47 - Liquidity patterns repeat 31:13 - We are in the Banana Zone 31:30 - No cycle top in sight 31:56 - This is just the beginning 32:19 - Banana Zone map 32:44 - Final advice: don’t mess this up 33:08 - Cycle could run into Q2 2026 33:39 - Stick to the program and DFTU
Raoul Pal532,935 görüntüleme • 1 yıl önce
Check out my latest conversation with Barry Silbert— from the early days of #Bitcoin to founding DCG and his next big crypto venture: Bittensor. 00:00 - Raoul introduces the thesis 05:00 - Barry’s $BTC origin story 10:00 - Birth of Grayscale and DCG 15:00 - Building crypto infrastructure 20:00 - The 2022 crypto crash 25:00 - Fallout from Three Arrows and FTX 30:00 - Surviving crisis and personal hardship 35:00 - Entering the AI + crypto era 40:00 - What is the Bittensor Network? 45:00 - Tor token and subnet mechanics 50:00 - The future of decentralized intelligence 55:00 - Final thoughts and what’s next As ever, I hope you find it useful. Enjoy!
Raoul Pal521,808 görüntüleme • 1 yıl önce
A conversation with Emad will always blow your mind. This one is no exception... Enjoy!
Raoul Pal283,257 görüntüleme • 7 ay önce