Macro Investor Calls Bitcoin “Pristine Collateral” – A Super Bullish Case

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Bitcoin is the best collateral the world has ever seen, according to Raoul Pal of Global Macro Investor and Real Vision Group. The Founder/CEO praised the cryptocurrency for its predictability and anti-fragileness as an asset as he pitted it against the government bonds. Treasurys, said Mr. Pal, is a part of a falling monetary system – collateral that gets devalued over time as central banks get accustomed to endless money printing and lower interest rates. “[Bonds] used to work just fine until the central banks become fearful of allowing the business cycle to run unimpeded,” the analyst wrote in its GMI Monthly. “Thus, when debt loads became unsustainable, meaning that the weakest borrowers couldn’t get access to enough collateral, instead of the price of collateral rising, thus forcing firms to go bust, central banks began to increase the supply of collateral and reserves [via] quantitative easing.” Mr. Pal also went…

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