News

Ex-Goldman Banker: Industry Could See $1 Quadrillion Crypto Use-Case That “Dwarfs Everything”

single-image

According to Raoul Pal, a former executive at Goldman Sachs, there is a use-case for cryptocurrency that could eventually bring in around $1 quadrillion.

Stay in the know on crypto by frequently visiting Crypto News Today

The macro expert claims that BlackRock’s recent drive for a spot Bitcoin exchange-traded fund (ETF) may have opened the door for large sums of money to flow onto blockchains and cryptocurrency platforms in a new interview on Crypto Banter.

CryptoCaster Quick Check:

Says Pal,

“I think it’s very important what BlackRock have done. Not for the ETF, not for the flows, but for the message it sends to the entire financial industry.

Again, I know a lot of these people, BlackRock have been involved in crypto for a while now. Don’t forget, he (Larry Fink) talked about it in the last cycle. Apollo, massive. Goldman, JPMorgan – they’re all there, but what we’re doing is seeing them come to the surface and say, ‘This is a meaningful technology… ‘

They’re now saying, ‘Well we want to invest in it, we want to allow our clients to invest in it, and we will build out on the infrastructure of it.’

So if you want the largest applications layer possible, it’s that whole finance industry. There’s like $1 quadrillion of derivatives that can all go on-chain. All the equities markets, everything can go on-chain. So if you want a use-case that dwarfs everything, it’s the system of money and finance.”

In July, BlackRock submitted an application for a Bitcoin ETF; the company has a nearly 100% approval rate for ETF submissions.CRYPTOCASTER® - DECENTRALIZED FREEDOM!


W

e hope you enjoyed this article. Before you move on, we invite you to consider supporting CryptoCaster’s journalism.

Billionaire owners like Elon Musk, Larry Fink (BlackRock), and Jamie Dimon (JP Morgan Chase) often have a strong influence on the hidden agendas surrounding the paradigm shift brought about by cryptocurrency and emerging Web3 technologies. CryptoCaster stands apart. We have no billionaire owner or shareholders to please. Our journalism is dedicated to serving the public interest in crypto development and institutional disruptions, not profit motives.

We avoid the pitfall of much U.S. and global media, which often resorts to false equivalence in the name of neutrality and retail consumer protection. While fairness and transparency guide everything we do, we recognize that there is a right and wrong stance in the fight against fiat global banking interests and the monetary reconstruction driven by the emerging crypto ecology.

When we report on issues like the FTX, Binance, and Ripple crises, we’re not afraid to name names and uncover the truth. As a crypto sentinel, we offer a fresh, outsider perspective on global monetary disruption—something often missing from the insular American and European media bubble.

CryptoCaster’s paywall-free journalism is accessible worldwide thanks to our unique reader-supported model. This is made possible by readers like you. Your support keeps us independent, free from outside influence, and accessible to everyone, regardless of their ability to pay for news and information.

We are grateful for the ongoing monetary support from our readers. If you haven’t yet considered supporting CryptoCaster, please consider contributing just once from $1 or more in Bitcoin (satoshi) or Ether, or even better, support us monthly with a bit more. Scroll further down this page to find CryptoCaster’s wallet addresses.

Thank you.

Kristin Steinbeck
Editor, CryptoCaster


Please Read Essential Disclaimer Information Here.
© 2024 Crypto Caster provides information. CryptoCaster.world does not provide investment advice. Do your research before taking a market position on the purchase of cryptocurrency and other asset classes. Past performance of any asset is not indicative of future results. All rights reserved.


Contribute to CryptoCaster℠ Via Metamask or favorite wallet. Send Coin/Token to Addresses Provided Below.
Thank you!
BTC – bc1qgdnd752esyl4jv6nhz3ypuzwa6wav9wuzaeg9g
ETH – 0x7D8D76E60bFF59c5295Aa1b39D651f6735D6413D
MATIC – 0x7D8D76E60bFF59c5295Aa1b39D651f6735D6413D
LITECOIN – ltc1qxsgp5fykl0007hnwgl93zr9vngwd2jxwlddvqt


CRYPTOCASTER HEATMAP


You may also like