Published 31 Jul 2026, 12:54 UTC · fetched 19 Oct 2026, 13:39 UTC
Raoul Pal
@RaoulGMI
Quoting · 28 Jul 2026, 17:22 UTC · context given to the AI
https://t.co/wWBITHb76AIn reply to · 31 Jul 2026, 12:54 UTC · context given to the AI
Look what I dug up. November 2013. As far as I know the first proper macro write up of Bitcoin anyone had done, telling my GMI subscribers to buy it at $200. Everyone thought I'd lost it. A $200 internet coin, taken seriously in a macro letter. Wasn't mad though... just early. Thirteen years later and I'm still here, deeper in it than ever. What started as one early call has become the centre of how I think about the entire future. Crypto isn't a side bet anymore. It's one of the only things that outruns the debasement of your savings, and the smart contract networks are becoming the rails the whole exponential economy runs on. Here's the bit most people still haven't understood... Bitcoin and the smart contract networks aren't the same bet. They're not even the same kind of thing. One is where you store your wealth. The other is what the entire economy gets rebuilt on top of. That's what I've written up this week. The whole picture, thirteen years on.https://t.co/XlamGJSU77View original on X ↗
Deterministic: the same prices and policy always give the same result
unscored Awaiting manual review
Only the end-of-horizon price counts. A brief move followed by a reversal is not a success. Read the methodology
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