How Raoul Pal 10X-ed His Money with Crypto and Retired to the Beach

Bitcoin's kind of a one-sided one, which is a bunch of people own it as a store of value, like gold. Nothing wrong with that, but there's not many applications built on it. When you look at Ethereum, it's like, holy shit. I mean, this is like the Internet. That moment is like, okay, this is a far superior bet.

My meta-narrative is the game is life itself. The game is not money; the game is quality of life and how you live it.

Over time I started charting Bitcoin versus other assets, and I realized its dominance amd performance was so extreme that it made no sense to own other assets—even with the fact that Bitcoin can be very volatile and have periods, like now, where it's down 50% ... It makes no sense to own anything else.

My big discovery and why I really started loading up on Ethereum was another chart, which was a understanding that Metcalfe's Law was the primary driver of all crypto markets.

If you can tokenize communities, which is now the network owner is the same as the network user ... So now, everyone is incentivized to grow the value of that network. You've now made culture an investment.

A lot of people think of money as the primary objective. I actually like houses, as you can tell from the house behind me. Because this is where I live. This is the quality of life. This is my bank. This is everything.

It's much easier to live in the future and look back and say, 'How do I get here?' than stand here today and go, 'I want to go forward.'