Macro investor Raoul Pal says the entire banking system will move to Ethereum (CRYPTO: ETH) as ETH tests the 100 exponential moving average at $2,355 for the first time since October.
The Banking System Thesis
Raoul Pal pushed back against the “ETH is dead” narrative from 1.5-2 years ago, arguing banks care about Lindy effects—things that survive, things you don’t get fired for, things that are proven.
“I find it hilarious that 1.5-2 years ago people were like, ‘ETH is dead.’ I’m like, ‘No, the entire banking system will go to ETH,’” Pal said.
“That doesn’t mean it’s a mono-chain world, but I know how banks work. It’s really for them about Lindy effects because nobody wants to lose their jobs over new technology,” he added.
The Decentralization Customer
Etherealize co-founder Danny Ryan …