Former Goldman Sachs Exec Shows Why Millennials Love Crypto

One former Goldman Sachs exec is in the coming altcoin news, showing why Bitcoin and crypto in general make sense to millennials. The legendary Bitcoin-centric podcaster Stephan Livera has recently brought on Raoul Pal, a crypto-curious former executive at Goldman Sachs that now heads Real Vision.

In the show, they mainly discussed investments where Pal took some time to explain his thoughts on Bitcoin, too. In one soundbite, which can be seen in the tweet below, the prominent economist and former Goldman Sachs exec said that as it stands, the most popular asset classes make no sense for millennials who have 10 to 20 year outlooks.

Here is @RaoulGMI on Baby Boomers, Millennials and Bitcoin. Baby Boomers were given a gift!

Full ep and transcript available here:https://t.co/zPQso3Ul34 pic.twitter.com/1auWfcAkyL

— Stephan Livera (@stephanlivera) July 30, 2019

Pal also explained that equities, are roughly at all-time highs, and are closing on extreme valuations for relatively little profit and potential. One of the legendary fund managers Ray Dalio was also on-par with the former Goldman Sachs exec and his thoughts, explaining (earlier this year):

“There are a lot of parallels between now and the late 1930s. From 1929 to 1932 we had a debt crisis — interest rates hit zero.
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Then there was a lot of printing of money, and purchases of financial assets brought their prices higher.”

Pal was featured on many best cryptocurrency news sites for saying that bonds are not much better – and that they draw attention to the “virtually zero yields” and negative yields in some cases – which debt deemed safe provides. Even real estate is not attractive to millennials as the former Goldman Sachs exec noted – adding that it makes even less sense to purchase properties because they are trading near all-time highs.

“So what the hell does a millennial do to save for your future, when almost all assets have negative imputed returns for the next 20 years, 10 years? And the answer is well, you take the optionality of cryptocurrency and Bitcoin,” Pal noted in the show.

He also went on to explain the rationality of why buying Bitcoin as a millennial (and under) makes sense – remarking that nothing like digital assets provide “that risk-reward profile where you can be wrong but you do it earlier on, you’ve still got plenty of time to accumulate wealth in other assets too.”

The latest cryptocurrency news show that more and more high-profile executives are keen on crypto and are starting to reasonate what the technology behind Bitcoin and other coins introduces.