2022-1-8 17:28 |
Raoul Pal, a former Goldman Sachs hedge fund manager and the CEO of Real Vision, believes the crypto market’s capitalization could grow 100X by 2030. Pal shared his bullish sentiments during an interview on December 31, saying the crypto market cap could swell to $250.00 trillion (£184.81 trillion) if crypto adoption continues at its current trajectory.
In the interview, Pal pointed out that asset classes like equities, bonds, and real estate have market caps ranging from $250.00 trillion (£184.81 trillion) to $350.00 trillion (£258.70 trillion). To this end, he compared the burgeoning crypto space to these industries saying there is a reasonable chance that crypto could grow to such heights.
He remarked that,
If I look at the total derivatives market, it’s $1 quadrillion. I think there’s a reasonable chance of this being a $250 trillion asset class, which is 100X from here, which would be the largest growth of any asset class in all of history in the shortest period of time.
According to him, this growth is in tandem with the idea that 3.5 billion people will have embraced crypto by the end of the decade.
Crypto starts 2022 on a bearish noteThat said, crypto’s journey to a $250 trillion (£184.81 trillion) market cap will not be a smooth ride. The volatile and speculative nature of the nascent asset is likely to cause a significant setback along the way. Additionally, regulatory issues might take a toll on the crypto market as global financial watchdogs try to rein in the industry.
At the time of writing, the crypto market is in a deep bear market after the US Federal Reserve reiterated its plans to raise rates this year. In the top-10 list of leading cryptos, all coins are red, with Polkadot (DOT/USD) and Solana being the biggest losers after plunging 13.22% and 12.70%, respectively. Bitcoin (BTC/USD) is down 7.32% in the day to change hands at $42,767.68 (£31,594.62).
This bearish sentiment in the market has wiped off 8.90% of the total capitalization over the past 24 hours, bringing it to $2.03 trillion (£1.50 trillion).
Notably, Pal had previously predicted that the crypto market would start the year on a bullish note as institutional investors redeploy the profits they got in 2021 into the crypto market. He added that more institutional investors would onboard the crypto bandwagon this year as they get better acquainted with the technology.
The post Raoul Pal says the crypto market’s cap might surge to $250T by 2030 appeared first on Invezz.
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