Bitcoin And Crypto Have Built A Setting For The Perfect Storm

It’s been just reported that the macro guru and the former Goldman Sachs executive, Raoul Pal said the crypto space managed to create a great stage for a new wave of crypto adoption.

In a new interview, the Real Vision CEO unveils three massive catalysts that he believes will accelerate the growth of Bitcoin and the rest of the crypto markets.

“For sovereign states, particularly sovereign wealth funds, they will look for a long duration asset, which gives them some security, so it has a place, so we will see a further adoption for sovereign states of this, not necessarily as a currency, but as an asset. I think that’s very interesting. I think that’s the place of Bitcoin in the world as a kind of pristine collateral reserve asset.”

He continued and said the following:

“We’ve got the sparks in place. The next thing we need is the inflation story to die, that would be a true accelerant, and growth to be falling and the central banks to be printing more money because it does very well. It drives adoption. It doesn’t just drive the price up like it does with equities and gold and real estate.”

He also said this drives adoption which is why it always massively outperforms everything else in times of monetary largesse. “You’re setting up for a perfect storm here.”

According to a press release, MEPs have adopted new rules mandating the European Banking Authority (EBA) to create a registry of crypto businesses that are at risk of money laundering, terrorism finance, and other criminal activity.

As the online publication the Daily Hodl notes, the rules are part of the EU’s latest vote to clamp down on unhosted cryptocurrency wallets, which requires that crypto exchanges perform know-your-customer (KYC) routines on wallets sending and receiving funds from their platforms.