与 Scott Melker 在“全街狼”节目中分享,Real Vision 的 CEO Raoul Pal 认为,2025 年的价格波动和流动性短缺实际上正为 2026 年加密货币的强劲上涨周期做准备。
据 Pal 称,约 90% 的市场波动来自流动性因素,而非技术突破或创新。他估计,未来 12 个月全球需要注入大约 7–8 万亿美元的流动性,才能偿还全球债务的利息。
Pal 认为,特朗普总统政府将不得不大力推动经济,以在中期选举中争取优势,这将使财政扩张成为不可避免的事情。监管方面的技术性变化,如 SLR,也可能允许银行购买更多国债,从而直接向系统注入资金,削弱美联储利率政策的影响。
他认为,各国政府将继续贬值货币以滚动债务,这是推动 Bitcoin 等有限供应资产的关键因素。Pal 不仅相信 Bitcoin,还认为以太坊或 Solana 等智能合约平台在未来也将实现强劲扩展。
据 Pal 称,AI 和区块链将成为“不可分割的搭档”,当 AI 代理使用加密货币和微支付进行交易时,网络价值有望提升到数万亿美元。虽然他承认 2025 年对加密投资者来说是“乏味且困难”的阶段,但 Pal 强调周期尚未结束,50% 的调整应被视为正常,而非像以前那样的 80% 崩盘。
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