"Coinbase's IPO Will Decrease Bitcoin Demand"

"Coinbase's IPO will decrease Bitcoin demand," said Raoul Pal, the renowned economist and former director of Goldman Sachs. What kind of change will happen to the price of Bitcoin, which has been in rally since the last week of 2020 and has reached the level of 41 thousand dollars? Here are the details .. Raoul Pal, former director of Goldman Sachs, stated that Coinbase's initial public offering (IPO) will negatively affect Bitcoin prices. According to Raoul Pal's statements, this situation will attract a lot of corporate liquidity from the market. Pal also said, "Does anyone know when the Coinbase IPO will be addressed? It's an easy-to-buy stock and probably short-term… It will attract a lot of corporate liquidity from the market as it will lead to a significant peak.”   "Institutional Investors Will Buy Coinbase" Raoul Pal said institutional investors would prefer to buy a stock that offers the opportunity to invest in cryptocurrencies rather than buying Bitcoin. “Let's say there are $ 100 billion in corporate money and xx billion individual funds ready to enter BTC in the next 6 months. For some it's impossible to buy cryptocurrency, for others it's hard. Then imagine a $ 60 billion worth of stock being launched in such a gray market. If you are a fund manager, why not just own Coinbase? Easier…. and it's not Bitcoin… but it will act like it and you don't need to beg your investment committee. ”   Individual Investors Will Also Turn To Coinbase On the individual investors' side, Raoul Pal underlined that they can easily purchase Coinbase shares through a broker rather than the laborious business of owning and storing Bitcoin. The famous economist continued his words as follows: “Individual investors can now shop from Schwab within 3 seconds. Don't invest in BTC without the pain of new accounts, fear of attacks and away from all other Fuds… So the logical choice: Buy Coinbase shares regardless of whether it's good or bad as a company… BTC is for dummies… "