Discerning the Phases of a Crypto Bull Market( w/ Ari Paul & Raoul Pal)

Real Vision: Finance & Investing

Real Vision

Business News, News, Investing, Business

4.1 • 1.1K Ratings

🗓️ 20 January 2021

⏱️ 80 minutes

🔗️ Recording | iTunes | RSS

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Summary

Crypto Wednesday: Ari Paul, CIO & managing partner of BlockTower Capital, joins Real Vision CEO Raoul Pal to discuss the launch of Paul's fund, value accrual in the crypto space, and how far along we are in this crypto bull market. Paul explains how he views the risk curve and how he filters through crypto projects. He describes the importance of understanding timing in the markets and how he believes crypto markets have dramatically more alpha in them than traditional markets. He closes by discussing the recent regulatory attention that the crypto space has received. Key Learnings: Paul explains the game theoretical concerns of crypto hard forks and how minority chains are insecure. He believes, "We are only in the 4th inning of this bull market cycle." Paul and Pal state that there is significantly more alpha to be found in crypto markets over traditional markets, and they expect it to remain this way for the foreseeable future. Recorded on December 10, 2020. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:28.2	today. Arie, fantastic to get you back on Real Vision and it's the first time you and I have actually sat down and chatted.
0:48.0	You've been on Real Vision a few times now.
0:50.0	Just once I think with Ash Bennington, which I'm actually going to be repeating fairly soon with him, but very much a pleasure to chat with you.
0:59.0	So listen, I'd love, firstly just give people an introduction about yourself what you do, and then we'll
1:04.0	dig back in the past a bit and get to how you got here.
1:08.0	Sure, sure. So currently I'm co-founder and I run Block Tower with my my co-founder Matthew. I'm the
1:16.7	CIO he's CEO so we kind of as many hedge funds function we kind of split the
1:21.1	investment firm down the middle in terms of who manages what.
1:24.8	And as an investment firm, we really look at the entire cryptocurrency kind of opportunity
1:29.6	set and try to be opportunistic and thoughtful about how to maximize what we can do in the space.
1:37.1	And that can mean VC style underwriting of equity, it can mean liquid asset trading,
1:41.5	trading options and other types of derivatives.
1:45.0	So we're very open-minded and opportunistic.
1:48.0	So how the hell did you get into this?
1:49.4	How did you get into Bitcoin, I guess that's where we start off? But what was your entry point? Talk me through that. getting some and a reminder to be humble. So in 2011, one of my smartest friends
2:04.8	who was a bond investor at PIMCO at the time,
2:07.6	he emailed me two sentences.
	...

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