Raoul Pal says ‘reasonable chance’ crypto market cap could 100X by 2030

Raoul Pal, a former hedge fund manager at Goldman Sachs and CEO of Real Vision, believes that the market capitalization of cryptocurrencies could increase 100-fold by the end of this decade.

At the time of writing, the global crypto sector has a total market capitalization of $2.2 trillion, and he told the Bankless Brasil podcast “there is a reasonable chance” that number could rise to around $250 trillion if crypto network adoption models continue as they are. a path.

Pal made comparisons between current benchmarks for other markets and asset classes such as stocks, bonds and real estate, noting that their market capitalization ranges from “US$250 to US$350 trillion”.. ”

“If you look at the total derivatives market, it’s a quadrillion dollars. I think there’s a reasonable chance that the asset class will be $250 trillion, 100 times from here, which is the largest growth of any asset class in history in the shortest period of time.”

“This would be very much in line with the idea that 3.5 billion people use it – that’s just an extrapolation of the network’s growth numbers. Even if [there are] 3.5 billion users in 2030, well, the market capitalization will be close to 250 trillion dollars.”

One thing is for sure, and that is not going to get there in a straight line upwards, the total cryptocurrency market cap is down 6.8% in the past 24 hours amid a massive decline in most of the major assets. Bitcoin (BTC), Ethereum (ETH) and Binance Coin (BNB) are 7.6%, 9% and 9.1% over the same time frame.

Related: Bitcoin Drops to $43.7K After Fed Minutes Reconfirm Plans to Raise Interest Rates

The recent downturn may have come as a surprise to Pal, during an interview on December 27, the investor predicted that Bitcoin would have a strong start through 2022 as he thought at the time that the period of institutional sell-offs and year-end earnings – was a takeover.

“It seems to be over because the market has been cruising for the past week, which is the traditional last week where everyone puts their books in order,” he said.

In November, Ball predicted that the bull run would not end in December like the previous sessions of 2015 and 2017, and would instead be extended until around June. Pal cited the large institutional inflows in the first quarter as the main reason behind this.