Raoul Pal: Capital Is Rotating From AI Back Into Crypto, AI Agents May Benefit Ethereum and Solana
Real Vision founder Raoul Pal says a pause in the AI stock rally could push capital back into crypto, and that AI-agent activity is more likely to flow to smart-contract platforms like Ethereum and Solana than to Bitcoin.
Capital Rotation Between AI and Crypto
Real Vision founder Raoul Pal said in a Cointelegraph interview published on October 6, 2026, that a pause in the AI stock rally could drive capital rotation back into the crypto market. He pointed to August 19–25 as an example: while Bitcoin rose about 25% to $80,000, Nvidia closed lower for seven consecutive trading sessions.
Pal argued that liquidity is not abundant right now, and that capital is simply rotating between AI and crypto. The key condition he identified is a weaker dollar—if the dollar index is pushed lower, crypto would get a "green light" for further upside; conversely, if an AI bubble bursts and drains liquidity, that would also be bad for crypto. He said he would prefer to see a combination of a weaker dollar, a steeper yield curve, and expanding bank credit.
AI Agents May Favor Ethereum and Solana
On the structural level, Pal judged that economic activity generated by AI agents will flow more toward smart-contract platforms such as Ethereum and Solana than to Bitcoin. He noted that AI agents can already pay for network content using stablecoins, citing a related feature AWS launched in June 2026. Pal previously worked at Goldman Sachs and GLG Partners, and first bought Bitcoin in 2013.
Source: https://cointelegraph.com/features/weaker-dollar-crypto-green-light-raoul-pal-trade-secrets?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound
Provenance & status
- Byline
- OceanAlt Editorial
- First published
- 2026-10-07
- Last updated
- 2026-10-07
- Content type
- Newsflash
- Source material
- View original ↗
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