RAOUL PAL THINKS THE BITCOIN PRICE WILL BE $100,000 OR EVEN $1,000,000

One fund manager thinks Bitcoin could be worth $1,000,000 USD after some envelope-back analysis from ‘a while ago.’ Former Global Macro Investor Group manager Raoul Pal has been predicting Bitcoin’s price based on a comparison with gold for over a year now.
Despite asserting that Bitcoin could be worth $100,000 or $1,000,000 each, Pal still only suggests that users follow the old adage: Only invest what you can afford to lose. Pal has been saying the same thing about Bitcoin since before its most recent price spike. Last year, Pal sent a newsletter to the Global Macro Investor Group with a simple trade recommendation: Buy Bitcoin.

This post was published at Crypto Coins News on November 12, 2014.