‘Boomer Generation’ In for a Rude Awakening – Macro Economist Predicts $1M Bitcoin by 2025

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Just recently, a report from Global Macro Investor (GMI) called “The Unfolding” claims that the world is experiencing the biggest economic event that hasn’t been seen in the last 150 years. GMI’s CEO Raoul Pal authored the report and he strongly believes the digital asset bitcoin will go from a $200 billion asset class to a $10 trillion asset class, within the next few years. In fact, Pal’s macro report stresses that the “Baby Boomer” generation is screwed and he expects this generation to sell away their nest eggs.

‘The Biggest Economic Event in the Last 100 Years’ as ‘Baby Boomers Will Sell Every Rally’

A 120-page Global Macro Investor report explains that the world economy is headed for disaster. The coronavirus outbreak has added a lot of fear into our everyday lives, but the economic after-effects are extremely concerning. GMI’s Raoul Pal says that during the next several years, society will experience three phases; panic, hope, and insolvency. Pal remarks that he believes the world is currently in a “panic” phase, where liquidity starts to dry up and there’s a lot of selling. The “hope” phase will be the first big correction, which will lead to the last and final phase called “insolvency.” This period will be a “brutal phase” says Pal and it will change everything, including all beliefs in the system itself.

Pal’s charts and statistics show the economy is dragging downwards with great force, as his findings show China’s falling Purchasing Managers’ Index (PMI) has been falling like a rock. Chinese retail sales continue to plummet, the country’s industrial production is sliding, car sales are bombing, Fixed Assets Investment is dropping significantly, and consumer confidence is imploding.

All of these negative factors are all relatively the same in economically powerful countries like the U.S., Japan, Australia, and various regions in Europe. Moreover, one large piece of evidence that something is horribly wrong is the “worst unemployment data imaginable and the market rallied.” Pal’s report also discusses the similarities between now and the Great Depression that took place years ago. On page 31, Pal explains that he believes the Baby Boomer generation is in for a rude awakening.

“The damage this does to the U.S. pension system is incomprehensible. The Baby Boomers will sell every rally they can to protect their last, rapidly diminishing nest egg,” Pal’s report details. “The Baby Boomers are totally f**ked [and] I have been publicly warning and warning about this.” Pal added:

All of this is going to destroy the velocity of money for a very long time.

‘Bitcoin Is a Call Option On It All — It Is the Future’

Pal’s research says that gold is performing well through all this and it “will continue to do so.” The report notes that a break past $1,800 an ounce, will be the initial trigger and “massively outperform equities.” Pal expects gold to rise by possibly 3-5x in the next few years.

When Pal gets to the subject of Bitcoin, he stresses that the digital asset’s performance will be a “different story.” “I think [bitcoin] can get to $1 million in the same period. I think it can go from a $200 billion asset class to a $10 trillion asset class. Gold as a comparison is around $15 trillion now, including paper gold,” Pal said. “If gold goes up 5x, it becomes a $60 trillion asset, so would it be crazy for bitcoin to have a $10 trillion valuation?” Pal stated further:

[Bitcoin] isn’t just a currency or even a store of value. It is an entire trusted, verified, secure, financial, and accounting system of value that can never be created outside of the cryptographic algorithm. It is nothing short of the future of our entire medium of exchange system, and of money itself and the platform on which it operates.

With all the other crypto projects and blockchains being created, Pal says the entire crypto economy could easily be a $100 trillion market valuation. “Bitcoin is a call option on it all — It is the future,” Pal concluded. He also added that he wholeheartedly believes that bitcoin is the “biggest trade of our lifetimes and just at the time when we need it most.” The report from GMI and its chief executive Raoul Pal follow the recent research by Bloomberg that says: “Bitcoin will be digital gold in 2020.

Additionally, Bank of America (BoA) just published a report that indicates gold may jump 50% from its current price and possibly touch a high of $3K per ounce in the near future. “Beyond traditional gold supply and demand fundamentals, financial repression is back on an extraordinary scale,” the BoA report’s author said.

What do you think about BTC touching $1 million per unit? Let us know in the comments below.

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