Former Goldman Sachs executive Raoul Pal says an explosion of the crypto market cap by 200x in the next decade is within the realm of possibility.
In a new interview with crypto analyst Scott Melker, the macro guru says that we could witness an unprecedented accumulation of wealth in the next 10 years.
“What I do know is if I just extrapolate the network adoption effects, the number of users, and where the number of users is going and assume it gets to somewhere between four and five billion in the next 10 years or so – which would be central bank digital currencies enabling it, all ticketing, a whole bunch of stuff going that way – the market cap of the space goes from $1 trillion to $200 trillion…
People don’t realize the world has never seen an accumulation of wealth like that in history. This would be the shortest period of time of the largest accumulation of wealth ever seen.”
While Pal is extremely bullish on the long-term prospects of crypto, he acknowledges that he could be wrong by a wide margin.
“Even if I’m wrong, let’s say I’m a total moron and I’m wrong by 90%, we’ll $20 trillion [from] $1 trillion, I’ll still take that bet because it’s still the best bet in the world, and that’s by me being wrong by 90%.”
At time of writing, the crypto market cap is hovering at slightly below $1 trillion.
IDon't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Tuso chakma