When Shift Happens2 min read
Raoul Pal says he bought more Zcash during the crash from $650 to $250
Pal explains why he added to Zcash on the hack-driven flash crash and admits he's unsure he'll hold the position long term.
AI summary of “Raoul Pal: The #1 Crypto Rule He STILL Follows After 13 Years”
Key takeaways
- Raoul Pal says he bought more Zcash when it flash-crashed to around $250-300 after a hack scare.
- Pal argues the Zcash thesis is simple: what share of global store of value wants to be private.
- He says he doesn't know his conviction level to hold Zcash long term, unlike his 13-year Bitcoin stance.
- Pal mentions Jamie Coutts at Real Vision turned "super bullish" on Near after a deep-dive analysis.
- Pal says he still holds some DOGE and "a bit of XRP somewhere" besides Sui, ETH, SOL, Bitcoin and Zcash.
Tokens mentioned
The speakers' views, not ours
Bought more on the flash crash to $250-300 but unsure he'll hold long term
“I just made an instant decision that you get these gut checks. And if it's a quality project... that was the last opportunity to buy.”
Jamie Coutts of Real Vision turned super bullish after on-chain activity and use cases grew
“came out super bullish on it as well”
Still holds a small amount, no thesis given
“I think I still have some DOGE left.”
Still holds a bit, no thesis given
“I still probably have a bit of XRP somewhere.”
Pal bought more Zcash into the crash, citing Lindy effect and unchanged thesis
Pal recounts that after Zcash's hack-driven crash from $650 to $250, he added to his position rather than selling. He says he had seen this kind of move before and checked with people who understand the technology to confirm the fundamental thesis hadn't changed.
"The probability was that there was no infinite supply of Zcash that people didn't know about. And that was it."He frames his buying decision as a "gut check" based on the project being "battle-tested" with Lindy effects after being around long enough.
On his overall Zcash thesis, Pal keeps it simple:
"What does 10% of global store value want to be private? And what's its value versus Bitcoin?"He compares it to his broader "more on" thesis without giving a specific price target.
Pal is unsure he wants to hold Zcash through a full cycle, and names other holdings
Asked whether Zcash could become "the next Bitcoin" in price action, Pal says he doesn't know how strong his conviction is to hold it through the fight he says will come from governments and exchanges, having already done that for 13 years with Bitcoin. He says he hasn't over-engineered a price framework and is instead watching the chart, calling a 5x or 10x gain "a really big win," and floats the idea of taking 50% off the table if it runs while keeping the rest.
He also references Near, a network he flagged a year earlier, noting Jamie Coutts at Real Vision did a deep dive and came out "super bullish," though Pal says he hasn't followed the data closely himself. Asked what other crypto he owns beyond Sui, ETH, SOL, Zcash and Bitcoin, Pal says he still has some DOGE and "a bit of XRP somewhere."
Written by AI from the video's transcript. It can compress, misattribute or miss context — the original video is the source. Not investment advice.
