Raoul Pal Doubles Down on NFTs as the ’Ultimate Wealth Preserver’—Crypto Elite Roll Their Eyes

Macro guru Raoul Pal just lit the fuse on crypto Twitter—again—by declaring NFTs the holy grail of long-term value storage. Cue the collective groan from Bitcoin maxis and gold bugs.

The Real Vision CEO’s latest provocation cuts through the noise of meme coin mania, positioning JPEGs as the new Swiss bank accounts. Never mind that most NFT floors have cratered harder than a Luna investor’s portfolio.

Love it or hate it, Pal’s bet exposes the dirty secret of modern finance: in a world where central banks print trillions, maybe cartoon apes really are safer than fiat. Now where’s that Beeple receipt...

Opinion divided

Supporters of Pal argued that he has often been ahead of the curve, pointing to past calls on macro trends like institutional Bitcoin adoption and the rise of Web3. To them, NFTs, particularly those tied to cultural provenance, represent digital property in its earliest, most undervalued form.

However, most of the community was quick to oppose the notion, highlighting the fact that the NFT sector remains significantly below the peaks seen in 2021. Some were more critical and argued that NFTs were “overhyped” and are “drowning in a liquidity desert.”

Investor and analyst Fred Krueger quoted Pal’s NFT statement with disbelief, writing:

“I kid you not.”

Gary Cardone echoed the sentiment, while other critics questioned the timing and substance of the call.

The clash over Pal’s comment reflects the growing sentiment in the industry that NFTs are speculative instruments whose long-term value remains unproven, despite the sector continuing to garner some support amid waning interest.