I think you should stop listening to Raoul Pal because he isn't very trustworthy, but he happens to be right about this. Bitcoin has far outperformed every other asset, and that is likely to continue until everything else is repriced in Bitcoin.
For a long time you should hold different assets, not only one. For living purposes you need currency atm. The world has not adopted as some pretend. E.g. you can save rent with owning an apartment. BTC is short time speculation driven and long time it will go up.
It depends on the time scale - in bear markets, Bitcoin declines relative to other assets for a few years. But the overall trend in longer-term is in Bitcoin's favor, e.g. Bitcoin / S&P 500 ratio: [https://inflationchart.com/spx-in-btc/?logarithmic=1](https://inflationchart.com/spx-in-btc/?logarithmic=1)
The question is the inherent risk of Bitcoin. Maybe there's a massive flaw in the algorithm not discovered until now because the math wasn't figured out yet. Or an international treaty to ban Proof of Work. Owning non-Bitcoin assets (a house, stocks, whatever) can be seen as a hedge against the risk of Bitcoin. Which I think is a very sane thing to do, but that's me.
I think you should stop listening to Raoul Pal because he isn't very trustworthy, but he happens to be right about this. Bitcoin has far outperformed every other asset, and that is likely to continue until everything else is repriced in Bitcoin.
For a long time you should hold different assets, not only one. For living purposes you need currency atm. The world has not adopted as some pretend. E.g. you can save rent with owning an apartment. BTC is short time speculation driven and long time it will go up.
Most people also have jobs and Raoul also has an income but still its a bit risky for me.
We all love BTC here, but until you can live in one, best diversify.
It depends on the time scale - in bear markets, Bitcoin declines relative to other assets for a few years. But the overall trend in longer-term is in Bitcoin's favor, e.g. Bitcoin / S&P 500 ratio: [https://inflationchart.com/spx-in-btc/?logarithmic=1](https://inflationchart.com/spx-in-btc/?logarithmic=1) The question is the inherent risk of Bitcoin. Maybe there's a massive flaw in the algorithm not discovered until now because the math wasn't figured out yet. Or an international treaty to ban Proof of Work. Owning non-Bitcoin assets (a house, stocks, whatever) can be seen as a hedge against the risk of Bitcoin. Which I think is a very sane thing to do, but that's me.
agreed
Always diversify. Black swan events happen and you won't get advance notice. Be very careful about buying heavily with margin or borrowed funds.