In a recent interview, former Goldman Sachs executive Raoul Pal predicted that crypto is on pace to more than 100x its market capitalization to $250 trillion within a decade.
Prior to founding macro economic and investment strategy research service Global Macro Investor (GMI) in 2005, Pal co-managed the GLG Global Macro Fund in London for global asset management firm GLG Partners (which is now called “Man GLG”). Before that, Pal worked at Goldman Sachs, where he co-managed the European hedge fund sales business in Equities and Equity Derivatives. Currently, he is the CEO of finance and business video channel Real Vision, which he co-founded in 2014.
Pal’s comments about the crypto market were made during a recent interview for the Bankless Brasil podcast. He pointed to similar asset classes around the world, such as equities, bonds and real estate, noting that they all averaged a market cap around $250 – $350 trillion.
As reported by The Daily Hodl, Pal said:
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.
Pal said his prediction would coincide with massive adoption for crypto in the coming years, including saying that “3.5 billion people” would be using digital assets and crypto networks. He claimed his prediction was consistent and “straightforward” when looking at network adoption models, which would ultimately lead to the market cap of crypto turning exponential.
Pal also commented on the influence of regulations on lesser-known altcoins, claiming that it could have significant ramifications for the price of certain digital assets.
Whether we keep [up] that log trend and keep hitting the bottom [with] a sharp selloff down 50% and back up again, or whether we trend sideways for a year. I think we’ll see both types of those price actions.
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.