Raoul Pal, a former hedge fund manager and noted proponent of cryptocurrency, predicts that the number of crypto users could soar to 4 billion by 2030.
In a recent post on X, he shared some comparisons between the adoption journeys of crypto users and internet users, particularly focusing on what happens after achieving 5 million users.
His analysis stemmed from examining the rise in crypto wallets alongside the growth in IP addresses.
Pal noted that the crypto user base is growing at an annual rate of 137%, expecting to reach 659 million users by the end of 2024. For context, the internet logged 187 million users with a 76% growth rate by the close of 2000.
He anticipates a mid-43% increase in crypto user numbers next year, predicting the total could hit 1 billion—this would represent about one-eighth of the global population by 2030.
Market capitalization of $100 trillion
He also has a bullish forecast for the cryptocurrency market itself, estimating it could exceed $100 trillion in the next decade, potentially as early as 2032.
Pal attributes this anticipated growth to declines in traditional investments and widespread adoption.
He stated, “Dependence accounts for 90% of price action, while recruitment is responsible for 100% of outperformance and the decline,” adding that he is the founder and CEO of platforms such as Real Vision and Global Macro Investor.
Community taps peers bullish take
However, comments on Pal’s post indicate that some may believe his estimates are overly optimistic.
One user pointed out that relying solely on wallet numbers might not accurately reflect real growth. Another suggested that crypto founders might be presenting a misleading picture of community engagement by merely distributing coins.
Yet, advocates on the thread defended Pal, arguing many people own multiple IP addresses.
Meanwhile, as of the end of 2024, a report from the B2B digital currency platform Triple-A claimed there would be over 560 million crypto users.
Additionally, a report from October 2024 by Andreessen Horowitz’s Crypto Division estimated around 30-60 million active crypto users each month.
