Raoul Pal, a well-known market expert and former Goldman Sachs executive, is bullish on Coinbase, a major US-based cryptocurrency exchange. He believes the company’s stock could skyrocket in value, potentially increasing tenfold.
A $10 Trillion Crypto Market?
Pal predicts the total value of the cryptocurrency market could reach a whopping $10 to $15 trillion in the near future. He argues that if this happens, Coinbase could be worth a staggering $500 billion, making it a “hell of a trade” for investors.
Political Winds Favor Coinbase
Pal points to the recent US elections as a positive sign for Coinbase. The company invested heavily in political action committees supporting pro-crypto candidates, and Pal believes these victories will benefit the company. He even suggests that Coinbase and Tesla are the only stocks worth owning right now.
Legal Battle With the SEC
Despite its potential, Coinbase is currently facing a legal battle with the US Securities and Exchange Commission (SEC). The SEC alleges that Coinbase illegally sold unregistered securities.
A Risky But Potentially Lucrative Investment
While Pal’s prediction is bold, it’s important to remember that investing in cryptocurrencies is inherently risky. Investors should always do their own research and understand the potential risks before making any investment decisions.
