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Bitcoin to Reach $250,000-$400,000 by 2022, According to Raoul Pal

Raoul Pal foresees that Bitcoin (BTC) will reach an all-time high of up to $400,000 by the end of 2021 or the beginning of 2022 at the latest.

In a recent podcast edition for Bankless, Raoul Pal, investment strategist and former hedge fund manager noted that Bitcoin (BTC) is likely to reach $250,000 to $400,000 by the end of 2021, or in fairness, by March 2022.

While Raoul Pal is a major cryptocurrency advocate, his allocation of the crypto portfolio has changed quite a lot. Last year, Pal’s Bitcoin (BTC) holdings were at least 80%. Recently, Raoul Pal revealed that his portfolio has changed considerably and is now comprised of 25% Bitcoin (BTC) and 55% Ethereum (ETH). Pal stated that he is contemplating reducing his Bitcoin (BTC) holdings at 5%, leading to believe that he is partial to Ethereum (ETH).

Raoul Pal has been keenly following the ever-increasing demand for Ethereum (ETH) which spiked his interest in cryptocurrency. He stated that right now, only 11% of the Ethereum (ETH) supply is available due to major amounts of Ethereum (ETH) being locked in holdings, DeFi, and NFTs. In the end, with the limited supply, the only outcome is an increase in price, which increases exponentially with the rise in demand.

Raoul Pal also predicted that Ethereum (ETH) will possibly reach $20,000 before 2022 apart from the Bitcoin (BTC) prediction. Although such a prediction seems insurmountable since it is already September and there is not much time left until year-end, Raoul Pal said that it is not unheard of, as Bitcoin (BTC) prices have fluctuated as much as 5 to 10 times in 3 months, and the massive dollar printing along with the launch of Bitcoin ETF in the US is more than enough to drive the price to the predicted amount. 

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