Raoul Pal: By 2030, there is a "reasonable possibility" for the market value of cryptocurrencies to grow to $250 trillion

Raoul Pal said: "I think there is a reasonable possibility that cryptocurrency will become a $250 trillion asset class, which is 100 times the current value."

Raoul Pal, former Goldman Sachs hedge fund manager and CEO of Real Vision, believes that by the end of this decade, the market value of cryptocurrencies may increase by 100 times.

At the time of writing, the total market value of the global crypto industry is US$2.2 trillion. Pal told the podcast Bankless Brasil that if the adoption model of the encrypted network continues its current trajectory, there is a “reasonable possibility” that this number will grow to US$250 trillion. about.

Pal compares current benchmarks in other markets with asset classes such as stocks, bonds, and real estate, noting that their market capitalization is between "US$250-350 trillion."

"I think that cryptocurrency has become a $250 trillion asset class, which is 100 times the current value. There is a reasonable possibility that this will be the largest growth in the shortest period of time among all asset classes in history."

He added: "This will fit very well with the idea that 3.5 billion people will use it-this is just an extrapolation of network growth figures. Therefore, if users reach 3.5 billion by 2030, the market value will reach $250 trillion. "

One thing is for sure, it will not go straight up. In the past 24 hours, due to the sharp correction of most major assets, the total market value of the crypto market has fallen by 6.8%. During the same time period, Bitcoin, Ethereum and Binance Coin (BNB) fell by 7.6%, 9% and 9.1%, respectively.

The recent downturn may even surprise Pal. In an interview on December 27th, the investor predicted that Bitcoin will have a strong start in 2022 because he believed that institutional sell-offs and year-end profit return. The period of vomiting is over.

He said: "They seem to be over, because the market has been turbulent in the past week, and the past week is the last week that everyone has been sorting out books."

In November, Pal predicted that the current bull market will not end in December like in 2015 and 2017, but will continue into June. Pal pointed out that the main reason behind this was the large inflow of institutional funds in the first quarter.