Raoul Pal, former Goldman Sachs executive and CEO of Real Vision, has expressed confidence in Ethereum's long-term potential to outperform Bitcoin. In a social media post on April 8, Pal highlighted the ETH/BTC exchange rate's alignment with rising business cycles and liquidity. He noted that since 2017, Ethereum has maintained its value relative to Bitcoin, suggesting that if current trends persist, Ethereum could surpass Bitcoin in performance over time. Pal attributes this potential outperformance to Ethereum's role as a smart contract platform, which offers a fundamentally different total addressable market compared to Bitcoin's 'store of value' function. He believes that the economic activity captured by Ethereum will drive its dominance over Bitcoin, as the importance of smart contracts continues to grow.