Raoul Pal, former head of equities and equities derivatives at Goldman Sachs in the United Kingdom and founder of Global Macro Investors and Real Vision Group, is convinced that investment into bitcoin will definitely pay off in the long run.

According to Pal, the potential value bitcoin can climb to outweighs all the accompanying risks. “So if bitcoin is worth 80 trillion dollars, let’s say you have only a 10% probability, that’s still 8 trillion dollars. Bitcoin is currently worth 200 billion dollars. I think bitcoin is ludicrously underpriced.”

Pal referenced crypto analyst PlanB’s tweets containing several different stock to flow models. He expects the price of bitcoin to increase to USD100,000 in the second half of next year and, after 2024, to an incredibly 1 million dollars which, according to Pal, is not impossible. On 30 July, stockbroker Joe Kernen also said that bitcoin may hit USD55,000 by May 2020. Currently, bitcoin is trading at around USD11,000.