Uploaded December 2025 | Updated September 2026, 2 weeks ago
🔥 *Crypto Gathering Miami 2026: Get your tickets today:* rvtv.io/49QZAGI
A special presentation from Breakpoint 2026... In this week's special episode, Raoul Pal is releasing his macro seminar and keynote address from Breakpoint 2026. Filled with all the charts you could want, Raoul breaks down where we're at in the cycle and what to expect in the year ahead. Recorded on December 11, 2025.
📣 Bitwise has been all-in on crypto since 2017 and has more than 20 crypto-based products to help investors get the access they need. Bitwise manages the world’s largest crypto index fund, one of the top Bitcoin ETFs, and one of the largest institutional Ethereum staking solutions. Bitwise has over $10 billion in assets under management and employs over 100 people in the US and Europe to manage a range of products, including ETFs, private alpha strategies, and SMAs for large investors.
👉 Check out Bitwise at bitwiseinvestments.com and let them know that Real Vision mentioned them. Carefully consider the extreme risks associated with crypto before investing.
Timestamps:
00:00 – Sponsor: Bitwise
00:46 – Like, Subscribe & Show Introduction
01:10 – Middle East Trip & Global Crypto Adoption
02:31 – Market Frustration & Why This Matters Now
03:03 – Presentation Context & Liquidity Thesis
04:34 – Asset Allocation Framework Introduction
05:18 – Debasement, Liquidity & Crypto’s Core Driver
05:46 – The Everything Code Explained
06:52 – Demographics, Debt & Slowing Growth
07:41 – Labor Force Decline & Government Debt
08:25 – Why Debt Keeps Rising Globally
09:40 – Projecting Future Debt Levels
10:05 – Liquidity, Debt Monetization & Asset Inflation
11:13 – Interest Payments Driving Money Printing
12:26 – Business Cycle Shifts & Debt Refinancing
13:34 – Bitcoin, Liquidity Cycles & Market Confusion
14:11 – Extended Debt Maturity & Why 2026 Matters
15:05 – Liquidity Signals & Policy Shifts
15:47 – Bitcoin as a Macro Asset
16:50 – Business Cycle Drives All Assets
17:52 – Altcoins, Risk Curves & Cycle Dynamics
18:35 – Fiscal Stimulus & Election Liquidity
19:48 – ISM, Expansion Signals & Market Timing
20:58 – Financial Conditions & Cycle Forecasts
21:41 – Liquidity Correlation With Bitcoin & NASDAQ
22:25 – Broken Liquidity Plumbing Explained
23:18 – Dollar, Global M2 & Cycle Extension
24:13 – Crypto Divergence & Liquidity Shortage
25:29 – Alligator Jaws & Liquidity Sensitivity
26:21 – Fear, Dislocations & Market Psychology
27:56 – Historical Parallels & Recovery Setup
28:26 – Crypto as the Ultimate Asset Allocation
29:10 – Performance vs Debasement & NASDAQ
30:20 – The Greatest Macro Trade Thesis
30:50 – Crypto’s Share of Global Wealth
31:26 – Path to a $100 Trillion Asset Class
32:29 – Banana Zone & 2026 Refi Cycle
33:12 – Allocation Rationale & What’s Next
34:04 – Like, Subscribe & Platform Call to Action
Unlock the potential to showcase your brand to our global audience. Contact us at partnerships@realvision.com for advertising inquiries.
🍌 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 Vision™:
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
🔥 *Crypto Gathering Miami 2026: Get your tickets today:* rvtv.io/49QZAGI
A special presentation from Breakpoint 2026... In this week's special episode, Raoul Pal is releasing his macro seminar and keynote address from Breakpoint 2026. Filled with all the charts you could want, Raoul breaks down where we're at in the cycle and what to expect in the year ahead. Recorded on December 11, 2025.
📣 Bitwise has been all-in on crypto since 2017 and has more than 20 crypto-based products to help investors get the access they need. Bitwise manages the world’s largest crypto index fund, one of the top Bitcoin ETFs, and one of the largest institutional Ethereum staking solutions. Bitwise has over $10 billion in assets under management and employs over 100 people in the US and Europe to manage a range of products, including ETFs, private alpha strategies, and SMAs for large investors.
👉 Check out Bitwise at bitwiseinvestments.com and let them know that Real Vision mentioned them. Carefully consider the extreme risks associated with crypto before investing.
Timestamps:
00:00 – Sponsor: Bitwise
00:46 – Like, Subscribe & Show Introduction
01:10 – Middle East Trip & Global Crypto Adoption
02:31 – Market Frustration & Why This Matters Now
03:03 – Presentation Context & Liquidity Thesis
04:34 – Asset Allocation Framework Introduction
05:18 – Debasement, Liquidity & Crypto’s Core Driver
05:46 – The Everything Code Explained
06:52 – Demographics, Debt & Slowing Growth
07:41 – Labor Force Decline & Government Debt
08:25 – Why Debt Keeps Rising Globally
09:40 – Projecting Future Debt Levels
10:05 – Liquidity, Debt Monetization & Asset Inflation
11:13 – Interest Payments Driving Money Printing
12:26 – Business Cycle Shifts & Debt Refinancing
13:34 – Bitcoin, Liquidity Cycles & Market Confusion
14:11 – Extended Debt Maturity & Why 2026 Matters
15:05 – Liquidity Signals & Policy Shifts
15:47 – Bitcoin as a Macro Asset
16:50 – Business Cycle Drives All Assets
17:52 – Altcoins, Risk Curves & Cycle Dynamics
18:35 – Fiscal Stimulus & Election Liquidity
19:48 – ISM, Expansion Signals & Market Timing
20:58 – Financial Conditions & Cycle Forecasts
21:41 – Liquidity Correlation With Bitcoin & NASDAQ
22:25 – Broken Liquidity Plumbing Explained
23:18 – Dollar, Global M2 & Cycle Extension
24:13 – Crypto Divergence & Liquidity Shortage
25:29 – Alligator Jaws & Liquidity Sensitivity
26:21 – Fear, Dislocations & Market Psychology
27:56 – Historical Parallels & Recovery Setup
28:26 – Crypto as the Ultimate Asset Allocation
29:10 – Performance vs Debasement & NASDAQ
30:20 – The Greatest Macro Trade Thesis
30:50 – Crypto’s Share of Global Wealth
31:26 – Path to a $100 Trillion Asset Class
32:29 – Banana Zone & 2026 Refi Cycle
33:12 – Allocation Rationale & What’s Next
34:04 – Like, Subscribe & Platform Call to Action
Unlock the potential to showcase your brand to our global audience. Contact us at partnerships@realvision.com for advertising inquiries.
🍌 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 Vision™:
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
