Under fire crypto guru and Real Vision CEO Raoul Pal has appealed to investors to be nice to each other, claiming “this is just investments, not a philosophical justice war” — barely six months after telling subscribers that doomed network Terra was “basically risk-free.”
Pal made the impassioned plea on Monday in a tweet that also saw him bemoaning “angry people” on Twitter “screaming at anyone with different views.”
It’s not 100% clear what prompted Pal’s tweet, but the former Goldman Sachs exec is taking considerable flak after he appeared to hype Terra and its associated tokens, LUNA and TerraUSD (UST).
Indeed in November, when asked about his favorite non-ETH or BTC coins, Pal listed LUNA alongside SOL, AVAX, and DOT.
And, following Terra’s recent $40 billion collapse, a video has resurfaced which shows Pal saying of Terra: “You can just stake the network and get 20%. And they’re basically risk-free if you want to own that network.”
Pal has rushed to defend his comments, telling detractors on social media that he himself never owned LUNA, never recommended it, and that the video was just a soundbite.
We’re still waiting on Pal’s $400k Bitcoin
Pal’s comments on Terra are by no means the first wildly inaccurate prediction he’s made.
He prophesied last year that, by March 2022, Bitcoin would reach a value between $250,000 and $400,000. Unfortunately for him, the world’s leading crypto never got above its November 8 price of $67,566.
Likewise, his forecast for a $40,000 Ether turned out to be wildly wide of the mark with it peaking at just over $4,800 also on November 8.
However, to be fair to Pal, he wasn’t the only one who mistakenly had Terra pegged for big things. In early April, just a few weeks before LUNA and UST started their dive, Binance was encouraging users to earn a 20% yield on their Terra by lending it out. The exchange called the scheme a “safe and happy” opportunity.