Uploaded April 2026 | Updated September 2026, 2 weeks ago
Raoul Pal welcomes back Chief Crypto Analyst, Jamie Coutts, to dig into the macro big picture before discussing how to value L1s, the tokenomics of AI agents, and the VC flight from crypto to AI. They also dig into the knock-on effects of the Iran War and highlight other opportunities emerging in crypto and AI. Recorded April 29, 2026.
đĽ *Download Raoul Pal's 4-year investing roadmap for free:* rvtv.io/41fVHWF
This May 5â7, join Real Vision CEO Raoul Pal at Consensus Miami with 20,000+ decision-makers from the White House, Wall Street, and Web3. From crypto at scale to institutional integration and agentic commerce, the conversations shaping whatâs next happen here. Save 20% with code RAOUL at consensus.coindesk.com/register/?promo=RAOUL&utm_campaign=RealVision_Newsletter&utm_content=c26&utm_medium=marketing&utm_source=RealVision&utm_term=paid&utm_id=c26
Abra provides high-net-worth individuals and institutions with a competitive edge in trading, investing, and collateralized borrowingâwhile maintaining full control through segregated account infrastructure. Abra recently added a new dollar-yield strategy for USDAF. USDAF is a yield-bearing stablecoin on Solana that seeks to generate yield through delta-neutral DeFi strategies. Go to realvision.com/abra
Unlock the potential to showcase your brand to our global audience. Contact us at partnerships@realvision.com for advertising inquiries.
Timestamps:
00:00 - Abra Sponsor
00:45 - Raoul Pal The Journey Man's with Jamie Coutts
2:30 - Why Liquidity Cycles Drive Asset Prices
04:12 - AI vs Crypto: The New Competition for Capital
05:55 - From QE to Treasury Liquidity: What Changed
07:05 - Blockchain as the Backbone of the Digital Economy
08:44 - Payments, Stablecoins, and Institutional Adoption
10:16 - How Big Institutions Are Allocating to Crypto
11:18 - Tokenization and Bringing Assets On-Chain
12:54 - Why Stablecoins Are the Gateway to Crypto Liquidity
14:11 - Why Fees Go to Zero in the Digital Economy
15:54 - How to Value Layer 1 Blockchains Properly
19:02 - Why Layer 1s Still Dominate the Investment Thesis
21:50 - Why Crypto Is Underperforming Right Now
24:23 - The Liquidity Cycle Reset and Market Outlook
28:05 - AI Narrative vs Crypto Narrative: Where Capital Flows
30:51 - Too Many Tokens? Supply vs Real Network Activity
34:06 - New Crypto Sectors: Privacy, AI, and Compute
37:14 - Zcash, Privacy, and the Future of On-Chain Transactions
40:40 - Bittensor, AI Networks, and Emerging Opportunities
44:51 - The Next Big Trade: On-Chain Options Markets
48:05 - Oil, War, and Macro Risks to Markets
49:58 - Bitcoin Outlook: Higher Highs or More Volatility?
51:45 - Raoul Pal's Takeaways
Get your Banana Zone swag at the Real Vision merch store: shop.realvision.com
Connect with me:
Twitter (X): twitter.com/RaoulGMI
Instagram: instagram.com/raoulgmi
LinkedIn: linkedin.com/in/raoul-pal-real-vision
My other work:
Real Vision: rvtv.io/3LHYIaH
Global Macro Investor: globalmacroinvestor.com
The Exponentialist: realvision.com/thefuture
EXPAAM: expaam.com
Connect with Real Visionâ˘:
Twitter: rvtv.io/twitter
Instagram: rvtv.io/instagram
Get a FREE membership: rvtv.io/3Y4t5Pw
Disclaimer: media.realvision.com/wp/20231004185303/Disclaimer-1.pdf
#raoulpal #crypto #macro #macroeconomics #cryptocurrency #cryptonews #blockchain #web3 #nft #nfts #btc #eth #btcnews #bitcoin #bitcoinnews #bitcointoday #cryptotrading #cryptoinsights #cryptotips #cryptoinsights #macroinsights #realvision #solana #sol #solanasol #altcoins #bitcoinnews #btctoday #btcnews #sui #suicrypto #ethnews
Raoul Pal welcomes back Chief Crypto Analyst, Jamie Coutts, to dig into the macro big picture before discussing how to value L1s, the tokenomics of AI agents, and the VC flight from crypto to AI. They also dig into the knock-on effects of the Iran War and highlight other opportunities emerging in crypto and AI. Recorded April 29, 2026.
đĽ *Download Raoul Pal's 4-year investing roadmap for free:* rvtv.io/41fVHWF
This May 5â7, join Real Vision CEO Raoul Pal at Consensus Miami with 20,000+ decision-makers from the White House, Wall Street, and Web3. From crypto at scale to institutional integration and agentic commerce, the conversations shaping whatâs next happen here. Save 20% with code RAOUL at consensus.coindesk.com/register/?promo=RAOUL&utm_campaign=RealVision_Newsletter&utm_content=c26&utm_medium=marketing&utm_source=RealVision&utm_term=paid&utm_id=c26
Abra provides high-net-worth individuals and institutions with a competitive edge in trading, investing, and collateralized borrowingâwhile maintaining full control through segregated account infrastructure. Abra recently added a new dollar-yield strategy for USDAF. USDAF is a yield-bearing stablecoin on Solana that seeks to generate yield through delta-neutral DeFi strategies. Go to realvision.com/abra
Unlock the potential to showcase your brand to our global audience. Contact us at partnerships@realvision.com for advertising inquiries.
Timestamps:
00:00 - Abra Sponsor
00:45 - Raoul Pal The Journey Man's with Jamie Coutts
2:30 - Why Liquidity Cycles Drive Asset Prices
04:12 - AI vs Crypto: The New Competition for Capital
05:55 - From QE to Treasury Liquidity: What Changed
07:05 - Blockchain as the Backbone of the Digital Economy
08:44 - Payments, Stablecoins, and Institutional Adoption
10:16 - How Big Institutions Are Allocating to Crypto
11:18 - Tokenization and Bringing Assets On-Chain
12:54 - Why Stablecoins Are the Gateway to Crypto Liquidity
14:11 - Why Fees Go to Zero in the Digital Economy
15:54 - How to Value Layer 1 Blockchains Properly
19:02 - Why Layer 1s Still Dominate the Investment Thesis
21:50 - Why Crypto Is Underperforming Right Now
24:23 - The Liquidity Cycle Reset and Market Outlook
28:05 - AI Narrative vs Crypto Narrative: Where Capital Flows
30:51 - Too Many Tokens? Supply vs Real Network Activity
34:06 - New Crypto Sectors: Privacy, AI, and Compute
37:14 - Zcash, Privacy, and the Future of On-Chain Transactions
40:40 - Bittensor, AI Networks, and Emerging Opportunities
44:51 - The Next Big Trade: On-Chain Options Markets
48:05 - Oil, War, and Macro Risks to Markets
49:58 - Bitcoin Outlook: Higher Highs or More Volatility?
51:45 - Raoul Pal's Takeaways
Get your Banana Zone swag at the Real Vision merch store: shop.realvision.com
Connect with me:
Twitter (X): twitter.com/RaoulGMI
Instagram: instagram.com/raoulgmi
LinkedIn: linkedin.com/in/raoul-pal-real-vision
My other work:
Real Vision: rvtv.io/3LHYIaH
Global Macro Investor: globalmacroinvestor.com
The Exponentialist: realvision.com/thefuture
EXPAAM: expaam.com
Connect with Real Visionâ˘:
Twitter: rvtv.io/twitter
Instagram: rvtv.io/instagram
Get a FREE membership: rvtv.io/3Y4t5Pw
Disclaimer: media.realvision.com/wp/20231004185303/Disclaimer-1.pdf
#raoulpal #crypto #macro #macroeconomics #cryptocurrency #cryptonews #blockchain #web3 #nft #nfts #btc #eth #btcnews #bitcoin #bitcoinnews #bitcointoday #cryptotrading #cryptoinsights #cryptotips #cryptoinsights #macroinsights #realvision #solana #sol #solanasol #altcoins #bitcoinnews #btctoday #btcnews #sui #suicrypto #ethnews
