A recent macro report is making waves in financial forums around the world. Perhaps most notably, it guides a Bitcoin price of $1 million in 2025. Moreover, Raoul Pal is now warning that the Baby Boomer generation will face significant economic hardship in the wake of the COVID-19 pandemic.
“The Unfolding” report is making waves
The report, which comes from the advisory publication Global Macro Investor, was originally available on March 30th. However, famous investor Raoul Pal – who is behind Global Macro Investor – recently made the report public. This was due to the extraordinary “circumstances”.
What’s more, the report paints a bullish future for cryptocurrencies – but a gloomy one for traditional financial systems. The report, which goes by the title The Unfolding, is an extensive read. What’s more, it includes numerous charts illustrating the current economic situation.
CEO Raoul Pal is noting that the COVID-19 coronavirus pandemic is revealing substantial system weakness in global markets. Summarizing the dramatic market losses seen in the stock market during March, Pal notes the Baby Boomer generation will be hit the hardest.
“The damage this does to the US pension system is incomprehensible. The Baby Boomers will sell every rally they can to protect their last, rapidly diminishing nest egg.”
“Boomers are f*cked”
Furthermore, Pal uses some straightforward prose to emphasize his point. “The Baby Boomers are totally fucked. I have been publicly warning and warning about this,” Pal writes in the report. He also suggests that the existing economic structure is about to change.
“The chances of the Baby Boomer generation coming out of this liquidation and spending money is close to zero. This generation drove consumption for forty years. That has ended as of this month. This will change the structure of the US economy for the next twenty years.”
$1 million Bitcoin
Speaking on the outlook of price increases in the coming three or five years. Pal notes the stock and bond market are going to struggle. He foresees gold increasing its price by up to five times in the coming years. However, he is guiding for an absolutely massive increase in the price of Bitcoin to $1 million:
“Bitcoin, well, that’s another story. I think it can get to $1 million in the same period. I think it can go from a $200 billion asset class to a $10 trillion asset class. Gold, as a comparison is around $15 trillion now, including paper gold. If gold goes up 5x, it becomes a $60 trillion asset (don’t forget the value of the dollar isn’t steady so the dollar comparisons are a bit meaningless).”
This prediction of $1 million Bitcoin may seem fanciful, but is in line with some other bullish predictions. Moreover, a recent Bloomberg report also suggests the price of Bitcoin is readying for a “2017-like leap”.
Rasmus Pihl is a writer for Toshi Times by day and an avid follower of the blockchain industry by night. Rasmus holds a Bachelor’s Degree in Marketing from the Gothenburg School of Business, Economics, and Law and runs a Swedish marketing consulting firm. Moreover, when he isn’t writing for Toshi Times, traveling, working or changing the world in some other capacity, Rasmus is more than likely caught up in postgraduate studies.
