Former Goldman Sachs executive Raoul Pal has revealed his heavy investment in Solana (SOL), an Ethereum competitor.
Solana Dominates Portfolio
Pal, known for his macro insights, stated that 80% of his crypto portfolio is allocated to SOL. He has shifted his Ethereum holdings to non-fungible tokens (NFTs), specifically high-end art NFTs.
Reasons for Solana Bet
Pal attributed his decision to invest heavily in Solana to its impressive performance in 2022. The Solana/Ethereum chart convinced him to go “all in” on Solana, similar to his earlier investment in Ethereum.
Solana’s Performance
At the time of writing, SOL is trading at $133, a remarkable increase of over 1,240% from its 2022 closing price of $9.89. In comparison, Ethereum has grown by approximately 155% over the same period.
Diversification
While SOL dominates Pal’s portfolio, he also holds 1% in “stupid s**t” such as Dogecoin and Bonk. Additionally, he has a portion invested in a fund of hedge funds focused on digital assets.
