Raoul Pal: Wall Street's tokenization push is now irreversible

• —Pal says bank lobbying is so strong that a lack of legal clarity will not stop tokenization
• —He sees the stalled CLARITY Act as non-critical, noting SEC and CFTC guidance signaled the market to keep going
• —Bitcoin is oversold versus Nasdaq, gold and its own history, but rising yields and a strong dollar are capping liquidity
• —A pause in AI investment would be better for crypto than an AI bubble burst, he said