Former Goldman Sachs executive, tells “Thinking Crypto”, why he brought in XRP despite the parent company Ripple being struck with the SEC lawsuit.
Why Did Pal Brought in XRP
Recently Raoul Pal, a well known finance personnel, appeared in an interview with Thinking Crypto’s Tony Edward. Though the interview discussed a wide variety of topics, one it’s highlights was Pal’s take on holding XRP. When asked why he added XRP to his portfolio, late last year, when the XRP was depreciating swiftly after the SEC filed a lawsuit against parent company Ripple, Pal replied:
“I bought it for the reason that A) It does have use cases and it is being used, and B) The court case is a phenomenal risk/reward.”
He further went onto explain, when he was getting XRP at a discounted price he simply looked at the probables. In the worst case scenario, Pal thought, if the token losses 100% of value it could only go to zero (which he deemed not a big deal), but if the lawsuit get solved in favour of Ripple, the XRP would be up 10x, as he asserted:
‘Well that’s a no-brainer.’ Why would you not take a 10-1 risk/reward that has a catalyst around it?“
A Brief Profile
Currently the CEO at Real Vision, a business multimedia outlet, Raoul Pal, has previously served at Goldman Sachs as Co-Head of European hedge fund sales business in Equities and Equity Derivatives. Moreover he also helped found Global Macro Investor (GMI), a macro investment strategy research center in 2005.
As Pal revealed himself last year, more than 90% of his, approximately $45 million, net worth is in crypt