Real Vision chief executive Raoul Pal is saying that one “interesting” crypto project could be a good bet for the next crypto bull market.
In a new interview on investment YouTube channel FamilyOffice, the former Goldman Sachs executive says he’s eyeing under-the-radar altcoin Internet Computer (ICP).
“Everybody hates it because the VCs [venture capitalists] got in really early. It was suddenly worth a huge amount of money. The coin sank 95%, but I think it’s interesting.
I think it’s potentially something for the next cycle because there’s a lot of smart people working on that. There’s a lot of development taking place. There’s not a huge network effect yet of distribution of the tokens, so it’s not provable yet.”
Internet Computer is a crypto project developed by Swiss-based not-for-profit scientific research organization Dfinity. The blockchain project aims to replicate the speed, power, and scale of the internet without relying on centralized systems such as firewalls, cloud computing infrastructure and databases. Internet Computer also enables developers to create websites, enterprise IT systems and internet services by installing their code directly on the public Internet.
ICP, the project’s utility token, is trading at $27.93 at time of writing and is up more than 3% in the past 24 hours.
Pal has previously said Internet Computer “is clearly the biggest in ambition of any project in the space.”
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