Macro guru and ex-Goldman Sachs executive Raoul Pal is revealing that is heavily invested in one Ethereum (ETH) competitor.
Pal says in an appearance on the Bankless YouTube channel that the native token of the layer-1 blockchain Solana (SOL) comprises about four-fifths of his crypto holdings while the rest is in memecoins, digital collectibles and in a digital assets-focused investment vehicle.
“I am 80% SOL. All of my ETH is now NFTs (non-fungible tokens), I have been buying high-end art NFTs.
I then have a bunch of the portfolio in the fund of hedge funds in Exponential Age Asset Management.
And I have 1% in stupid s**t like dogwifhat, Dogecoin and Bonk. Got all of those. But that’s 1%… just to be clear I’ve got like in all of memecoins and everything else, 1% of my portfolio. I am 80% Solana.”
On what convinced him to bet heavily on Solana, the former Goldman Sachs executive says,
“The chart that was a standout in 2022 was the Solana/Ethereum chart. And that was the chart that got me buying Solana and then going all in. Much like I went into Ethereum all in about September 2020. I just did it earlier in Solana.”
Solana is trading at $133 at time of writing, up by over 1,240% from the 2022 closing price of about $9.89.
Over the same period, Ethereum has increased by around 155% from the 2022 closing price of around $1,200 to the current $3,062.
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