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Raoul Pal Says Most People Think Crypto Is About Tokens Going Up and Down, but Today It Is About 'Owning' the Operating System of the Next Economy

Macro investor Raoul Pal argues that crypto’s significance has expanded beyond short-term token price movements. He frames the sector as infrastructure for a future digital economy, with ownership and participation in its underlying…

Yahoo Finance

Publisher

Aug 9, 2026 at 3:16 PM UTC · Updated 15일 전 · 4 분 소요

Raoul Pal Says Most People Think Crypto Is About Tokens Going Up and Down, but Today It Is About 'Owning' the Operating System of the Next Economy
Image via Yahoo Finance

Market Impact

Total MCap+1.74%

Last Updated

15일 전

번역 중…

핵심 요약

  • Pal says many people still view crypto primarily as speculative assets that rise and fall in price.
  • He argues that crypto networks increasingly function as the operating system for a new economy.
  • The thesis emphasizes ownership of digital infrastructure rather than trading tokens alone.

Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below.

Macro investor Raoul Pal said on Wednesday that cryptocurrency's real significance lies in enabling AI agentic finance, rather than token price moves.

'Exciting' Unlock For Square Sellers

In an X post, Pal argued that tokens going up and down is the "smallest part of what's happening."

"Money is about to start moving at silicon speed," the Real Vision CEO said. "Billions of agents transacting with each other, negotiating, settling and running full businesses at a velocity no human system can match."

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Pal said that regulatory attempts to control this new economy would be akin to "trying to catch a bullet with a butterfly net."

He positioned blockchain rails as the only system capable of supporting billions of autonomous economic interactions.

"Which is why owning a piece of it is owning the operating system the next economy runs on," Pal added.

Most people still think crypto is about tokens going up and down.

It isn't. Or at least, that's the smallest part of what's happening.

Money is about to start moving at silicon speed. Billions of agents transacting with each other, negotiating, settling and running full… pic.twitter.com/AtLFbKal0a

— Raoul Pal (@RaoulGMI) August 5, 2026

Market Context

Ethereum

ETH

$2,482

+0.48% (24H)

Market Cap

$298.6B

Circulating Supply

120.7M ETH

24H Volume

$21.5B

24H High

$2,533

View Ethereum Market Page

Article Intelligence

Topics

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