Former Goldman Sachs executive Raoul Pal says that despite a cooling in the markets, crypto is witnessing an exponential adoption curve.
In a post on X, the Real Vision CEO tells his 1.2 million followers that crypto adoption, which he says is double the speed as internet adoption, will take digital assets to a $100 trillion market cap by around 2032.
[adinserter block="1"]“Crypto is still being adopted at twice the speed on the internet from 5m IP addresses vs 5m wallets (very like for like)
And its on its way to 4 billion by 2030…
And that will take it from $4trn in market cap today to $100trn by 2032/2034.”
Pal says that crypto is being driven by two secular trends: adoption and currency debasement. He shares a chart suggesting a correlation between the price of Bitcoin and the GMI Total Liquidity Index, which tracks M2 money supply from major economies.
“Debasement explains 90% of price action (adoption explains 100% of outperformance vs debasement)”
Pal suggests that BTC could be in for a similar price expansion as 2017 if the correlation remains true.
And all you care about is if September is going to be weak… You cant be saved from yourself if that is your mindset. This is the comp vs 2017…”
At time of writing, Bitcoin is trading at $108,566.
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