Raoul Pal Declares NFTs Best Long-Term Store of Wealth

Raoul Pal, the CEO of Real Vision and a prominent figure in macro investing, has sparked debate in the digital asset community by declaring that NFTs are the “single best long-term store of wealth.” This statement, made on social media, follows his broader thesis that currency debasement and exponential technology trends are driving a significant shift in asset ownership.

Pal's comment, which was screenshotted by the community, reads: “You don’t own enough crypto. When you do, you don’t own enough NFTs, as art is upstream of wealth. Both will never be this cheap again.” This assertion has elicited a mix of support, skepticism, and ridicule, underscoring the divided sentiment within the NFT market as it recalibrates after its speculative peak.

Influencer Lark Davis echoed Pal’s view, admitting he held few NFTs and intended to change that this cycle. Pal responded with a suggestion to “just buy a Punk as a starter,” referring to CryptoPunks, one of the oldest and most recognizable Ethereum-based NFT collections.

Supporters of Pal argue that he has often been ahead of the curve, pointing to past calls on macro trends like institutional Bitcoin adoption and the rise of Web3. To them, NFTs, particularly those tied to cultural provenance, represent digital property in its earliest, most undervalued form.

However, most of the community was quick to oppose the notion, highlighting the fact that the NFT sector remains significantly below the peaks seen in 2021. Some were more critical and argued that NFTs were “overhyped” and are “drowning in a liquidity desert.” Investor and analyst Fred Krueger quoted Pal’s NFT statement with disbelief, writing: “I kid you not.” Gary Cardone echoed the sentiment, while other critics questioned the timing and substance of the call.

The clash over Pal’s comment reflects the growing sentiment in the industry that NFTs are speculative instruments whose long-term value remains unproven, despite the sector continuing to garner some support amid waning interest.