A well-known name in the cryptocurrency world and Former Goldman Sachs executive Raoul Palexpects billions of new cryptocurrency users to join the game by the end of the decade, despite the tension investors are feeling right now.
In a recent discussion on recession and inflation on the Real Vision Finance YouTube channel, Pal examined historical data comparing crypto adoption rates with the early years of the internet.
“Crypto adoption is now starting to outperform the internet. For the same period, cryptocurrencies are growing by about 165% per year, while the internet has grown 85%. This represents the fastest adoption of any technology in all of human history. We will reach five billion users by 2030.
And in 2024, there will be one billion users, when the growth rate starts to decline again. I do not assume that the growth will remain as fast as before. In fact, growth has already started to slow.
I think that’s the extent of what happened. And you can have it, unlike the internet, it’s much easier to have because cryptocurrencyBy owning either, you have a stake in the network.”
Continuing to share his views on early-stage growth, Pal stated that crypto assets will outpace the internet by 76% to 43% this year, marking an unprecedented expansion. Thinking that even 43% growth of crypto in the worst case scenario will have a big impact, Pal stated that the current growth is around 165%.
Real Vision CEO also pointed out that the overall cryptocurrency market cap is not expanding at the moment, and while there is no real crypto winter, investors should be prepared for a bear market.
Pal thinks people will have to accept the stagnation in cryptoassets until network activity is on the rise again.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, KoinFinans and the author of this content cannot be held responsible for personal investment decisions.