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Raoul Pal Forecasts $100 Trillion Crypto Market Within a Decade
Raoul Pal – Former hedge fund manager and well-known crypto bull Raoul Pal has made one of his boldest forecasts yet: the total number of crypto users could reach 4 billion by 2030, with the market capitalization potentially crossing $100 trillion within the next decade.
Comparing Crypto Adoption to the Internet
In an X post on Sunday, Pal shared adoption data comparing crypto to the internet. He measured crypto adoption by the number of wallets, while internet growth was measured by IP addresses. According to Pal, the global crypto user base has expanded at an average of 137% annually over the past nine years, reaching 659 million users by the end of 2024. For comparison, the internet had about 187 million users by the end of 2000, growing at a 76% annual rate.
Pal believes the industry will grow at a more moderate pace moving forward, projecting 43% growth in 2025, which could bring the total to 1 billion crypto users by 2030—roughly one-eighth of the world’s population.
$100 Trillion Market Capitalization Forecast
Alongside adoption, Pal expects the crypto market to eventually hit a staggering $100 trillion valuation, potentially as early as 2032. He pointed to two main drivers of this growth: currency debasement and mass adoption. “Debasement explains 90% of price action,” Pal noted, while adding that adoption fuels crypto’s outperformance.
Community Pushback on Pal’s Optimism
Not everyone agrees with Pal’s bullish take. Several X users argued that wallets may not reflect real user growth, since individuals and project founders can create multiple wallets. One user said they personally open a new wallet every six months.
Pal countered by pointing out that internet users also rely on multiple IP addresses, suggesting the comparison remains valid.
Meanwhile, Triple-A reported that there were already over 560 million crypto users by the end of 2024, while Andreessen Horowitz estimated 30–60 million real monthly users in its October 2024 report.
Despite skepticism, Pal’s vision paints a picture of crypto adoption potentially rivaling the scale of the internet itself within the next decade.
