Raul Pal is currently known as a co-founder of Real Vision, but Pal has also worked as a portfolio manager at Goldman Sachs in the past. Lately, he has focused entirely on cryptocurrencies and has now talked about what he believes is the huge potential that this sector has. In the next 10 years, Pal sees the market value of this industry going to increase 100-fold. Provided that adoption continues at the same pace as in recent years.
He compares it to other markets such as stocks, bonds, and real estate, which also have a market capitalization of between $250 trillion and $350 trillion. “If you look at the $1 trillion derivatives market, I think there’s a fair chance that it’s a $250 trillion asset class. Which means we’re going to go 100x from here, which would be the largest asset class growth in the world,” said Raul Pal. history in a short period of time.
To 3.5 billion users by 2030
In addition to the total market capitalization of $250 trillion, Raul Pal also predicts in the above interview that the industry will grow to 3.5 billion users. Which means that almost half of the planet has at least some cryptocurrency in their wallet at that point. Now this seems far off and looks like a utopia, but when you see how fast Bitcoin has grown in recent years, it certainly doesn’t seem improbable. After all, we are talking about 2030, which is still 8 years away from us.
However, one thing is for sure that we do not go up in a straight line. As we have seen in recent years, the growth of Bitcoin and the rest of the industry has been accompanied by extreme volatility. The past 24 hours have not been a party to this either.
With Bitcoin down around 7 percent, as well as Ethereum and Binance plummeting, the industry is facing a similar tough time. This appears to be mainly due to the US Federal Reserve’s decision to go ahead with its interest rate hike plans. Which means that financing becomes more expensive and this is not good for the financial markets in general.
Raul Pal expects a strong start into 2022
The blow that we delivered in the last hours will come as a surprise to Bal, as he indicated in the interview that he expects Bitcoin to start strong in 2022. Now the opposite appears to be true. Although we are only just starting the new year, and it wouldn’t be fair to give Pal’s prediction or prediction with a final assessment already.
Bitcoin may have taken a few hits, but on the chain we are still very strong. Especially when you look at the behavior of long-term assholes. At the time of writing, 76 percent of the bitcoin supply is illiquid according to Glassnode, which means that these coins are in the wallets of people who rarely or never sell bitcoins.
It seems that it is the newcomers who are currently afraid and selling their bitcoins to people who are convinced of the digital currency’s long-term potential. In November, Ball predicted that the uptrend would not end in December, but that this cycle would extend into June. The experienced investor expects this due to the institutional capital expected to flow in the first quarter of 2022.