Raoul Pal, founder and CEO of Global Macro Investor and Real Vision, has projected that the global cryptocurrency user base could reach 4 billion by 2030, driven by rapid adoption rates. In an X post, Pal compared crypto adoption to internet growth, noting that crypto users have increased by 137% annually over nine years, hitting 659 million by the end of 2024, while internet users grew by 76% annually to 187 million by 2000.
Pal forecasts a 43% growth in crypto users next year, reaching 1 billion, and eventually 4 billion by 2030, representing one-eighth of the global population. He also predicts the crypto market capitalization will surge from the current $4 trillion to $100 trillion by 2032–2034, primarily fueled by currency debasement and widespread adoption. Pal emphasized that "debasement explains 90% of price action, and adoption explains 100% of outperformance vs debasement."
Some X users expressed skepticism, arguing that wallet counts may overstate user growth due to multiple wallet creations, but Pal defended the metric by comparing it to multiple IP addresses in internet usage. Additionally, the article references historical September weakness in Bitcoin markets but notes recent gains due to institutional adoption, with Pal dismissing seasonal concerns as outdated.