Raoul Pal: Crypto Users Could Hit 4B by 2030

Real Vision CEO Raoul Pal predicts 4 billion crypto users by 2030 and a $100 trillion market cap within the next decade.

Comparing crypto adoption to the internet boom

Former hedge fund manager and Real Vision CEO Raoul Pal predicts the number of crypto users could reach 4 billion by 2030. According to him, the growth trajectory of crypto resembles that of the early internet.

Pal compared crypto wallet addresses to IP addresses during the internet’s early expansion. He noted that the global crypto user base has grown by 137% annually over the past nine years, hitting 659 million by the end of 2024. In contrast, internet users numbered just 187 million in 2000, with an annual growth rate of 76%.

Toward a $100 trillion crypto market

Pal forecasts that crypto adoption could reach 1 billion users by next year, representing one-eighth of the global population.

He also projects the total crypto market capitalization could hit $100 trillion by 2032. According to Pal, currency debasement and mass adoption will serve as the main drivers of this growth.

“Debasement explains 90% of price action, while adoption accounts for outperformance,” Pal said.

Community reaction and skepticism

Not everyone shares Pal’s bullish outlook. Some X users argued that wallet numbers don’t represent real adoption, since individuals and project founders often create multiple wallets. Others admitted they open new wallets regularly for convenience.

Pal countered that people also use multiple IP addresses, making the comparison fair.

According to Triple-A, more than 560 million people used crypto by the end of 2024. Meanwhile, Andreessen Horowitz research estimated only 30–60 million real active monthly users.