Key Insights
Raoul Pal expects crypto adoption to outshine the internet’s growth and hit 4 billion users by 2030.
He predicts a $100 trillion market cap for crypto by 2032, which will be driven by currency debasement and adoption.
Critics continue to question wallet-based user counts, but Pal compares them to early internet IP metrics.
Former hedge fund manager and Real Vision CEO Raoul Pal believes that crypto adoption could reach levels that even the internet never matched during its early years.
According to his predictions, four billion people may be using digital assets by 2030.
Pal based his prediction on the expansion of crypto wallets, compared to the adoption of internet IP addresses. By the end of the previous year, there were 659 million crypto users already.
This showed a staggering 137% annual growth rate over nine years. Comparatively, internet adoption in the 1990s grew at 76% annually to a high of 187 million users by 2000.
This pace, according to Pal, shows that crypto is not only keeping up with but also beating one of the most transformative technologies in history.
Pal’s prediction does not stop at user numbers. He believes that the total market cap of the crypto industry could reach $100 trillion by 2032 and rival many equity markets.
His outlook depends on two main forces. The first of these is the ongoing currency debasement, which he says explains 90% of crypto price action. Second is the ongoing adoption, which he identifies as the only factor that drives outperformance against debasement.
The Real Vision CEO says that the combination of weakened fiat currencies and rising participation in crypto networks could reshape finance. If achieved, this valuation would rank among the largest wealth shifts ever recorded.
Despite the optimism, Pal’s predictions have come under fire. Many critics argue that measuring adoption through wallet counts can lead to inflated figures. Some individuals and project teams tend to create multiple wallets, which makes the actual number of unique users unclear.
Community members have also pointed out that they often open new wallets every few months for security or organizational reasons. This behavior indicates that wallet growth may not always translate to new user growth.
Pal, however, has dismissed these worries by drawing a comparison with internet adoption. Over the early days of the internet, researchers tracked IP addresses as a proxy for users, even though one person might use several.
Over time, this metric still reflected genuine adoption trends. He says that crypto wallets should be viewed in the same light.
Independent research has more cautious adoption figures. For example, the B2B digital currency platform Triple-A noted that there were over 560 million crypto users by the end of last year.
Meanwhile, Andreessen Horowitz’s crypto division reported that between 30 million and 60 million people use crypto actively each month.
These differences show the issues with measuring adoption. While the overall numbers may vary, both reports confirm that the participation is growing. What is unclear, however, is whether adoption will continue to grow at the explosive pace that Pal predicts.
Pal’s argument is mostly based on comparisons with the internet. When the internet had around five million users, it expanded to 187 million in under a decade. Crypto, on the other hand, already has more than 650 million users in the same relative timeframe.
He sees this trend as evidence that digital assets could reach four billion users faster than many expect.
If adoption continues, even at a slower pace, crypto could still outgrow many other technological innovations.
If Pal’s outlook becomes reality, the economic consequences would be enormous. A $100 trillion crypto market would grow to rival traditional financial systems. It would also change how money and assets are stored, transferred and valued.
For everyday users, this could mean easier access to defi tools, digital identity systems, and global payment networks, among other things.
Even if crypto adoption does not reach Pal’s targets, the trend toward mainstream use has been undeniable.
Disclaimer: Voice of Crypto aims to deliver accurate and up-to-date information, but it will not be responsible for any missing facts or inaccurate information. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.