與 Scott Melker 在 “The Wolf Of All Streets” 節目中分享,Real Vision 的 CEO Raoul Pal 認為,2025 年的價格波動和流動性短缺實際上正為 2026 年的加密貨幣牛市周期做準備。
根據 Pal 的說法,約 90% 的市場波動來自流動性因素,而非技術進步或故事。他估計,未來 12 個月全球需要注入約 7–8 萬億美元的流動性,才能支付全球債務的利息。
Pal 預測,特朗普總統的政府將被迫大力推動經濟,以在中期選舉中取得優勢,擴張財政成為難以避免的選項。規範上的技術變革,例如 SLR,也可能允許銀行購買更多國債,從而直接向系統注入資金,削弱美聯儲的利率政策影響。
他認為,各國政府將繼續貶值貨幣以循環債務,這是推動像比特幣這樣有限供應資產的關鍵因素。不僅如此,Pal 也相信像以太坊或 Solana 這樣的智能合約平台在未來也將大幅擴展。
根據 Pal 的說法,AI 和區塊鏈將成為“不可分割的搭檔”,當 AI 代理使用加密貨幣和微支付進行交易時,能夠將網絡價值推升到數萬億美元。儘管他承認 2025 年將是“乏味且艱難”的加密投資階段,Pal 強調周期尚未結束,50% 的調整應被視為正常,而非過去那種 80% 的崩盤。
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