Raoul Pal, who is both a co-founder and the CEO of Real Vision, has shared his positive outlook on the future role of cryptocurrencies in finance. This well-known financial guru believes that the crypto sector will witness significant growth, potentially surpassing the rate of adoption we saw with the internet.
Expert Discusses Global Crypto Adoption
In a recent interview with Bankless on their YouTube channel, Pal discussed the rapid spread of cryptocurrencies worldwide. He referred back to a previous statement he made on X (originally Twitter) on April 2, where he stated that the adoption of cryptocurrencies was increasing at a rate twice as fast as the internet did in its early days.
A crypto specialist shared that to assess the adoption of cryptocurrencies compared to the internet, you need to consider the number of unique cryptocurrency wallets and the associated IP addresses.
He disclosed that statistics revealed that there were about 550 million people who use cryptocurrencies. However Pal disagrees, labeling this estimate as a “midcurve” and clarifying that the figure should represent “active wallet addresses” rather than crypto users.
Exploring the numerous applications of cryptocurrencies, Pal strongly believed that our traditional financial system would eventually shift towards being based on “tokenized tracks.” Yet, this transition may take some time as the crypto industry matures and enhances its security features.
The CEO of Real Vision believes that the number of crypto users could reach one billion by the close of 2025. Furthermore, he anticipates that the total market capitalization of the industry will soar to $12 trillion during a bull run and an astounding $100 trillion by the end of the 3032 cycle.
The Adoption Effect On Cryptocurrencies
In the podcast, Pal proposed the idea that the speed at which a digital currency is being adopted could signify its potential for significant price growth.
During the 2021 crypto market surge, it was noted that Solana (SOL) experienced substantial growth, reaching unprecedented peak prices. This surprising escalation can be linked to the swift acceptance of Solana amongst cryptocurrency investors and community members.
In addition, Pal recognized the doubt about which alternative coins (altcoins) could fuel the next cryptocurrency rally. He stressed that those with the greatest user adoption stood out as strong possibilities.
He disclosed that cryptocurrencies such as Sui (SUI), Aptos (APT) and Cosmos (ATOM) were potential candidates for an altcoin bull run. Additionally, Pal disclosed that the crypto market was currently undergoing a transition into its summer period, during which Bitcoin is expected to hit new highs before its overall dominance diminishes, signaling the onset of the altcoin season.
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2024-04-17 17:12