The founder of Real Vision and Global Macro Investor, Raoul Pal, says he is now an investor in Cardano (ADA).
In a new interview with Bitboy Crypto, the former Goldman Sachs executive says that he finds ADA interesting and sees potential growth opportunities for the third-largest cryptocurrency by market cap.
“You know we’ve had Charles Hoskinson a few times on Real Vision. I like the project I think it’s very interesting. We really need to see more network adoption, so it’s early stage for me…
It’s doing well. There’s a big community behind it so that gives you one side of the network. We need to see more use cases outside of the Ethiopia case that’s being talked about a lot.
I own some and I’m just waiting to see really is it going to start getting a lot of traction, people building stuff on it?”
Pal also shares his outlook for the ADA with the Alonzo upgrade bringing smart contracts functionality to the blockchain.
“I know people are waiting for the smart contract side so you know.
Maybe it’s not the biggest outperformer in this cycle, but you know if it survives this cycle and continues to get adoption, it’ll probably do very well in the next side.”
Pal says he’s also interested in social tokens that are designed to transform traditional business models, pointing to Chiliz (CHZ) and Rally (RLY) as two early leaders in the space.
Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Tithi Luadthong