The global adoption of cryptocurrencies is accelerating faster than ever before, according to former hedge fund manager and well-known crypto advocate Raoul Pal. In a recent post on X (formerly Twitter), Pal shared compelling data comparing the rapid growth of crypto wallets to the early days of internet adoption.
Crypto Wallet Growth Outpaces Internet’s Early Adoption
By the end of 2024, the number of global crypto users had already exceeded 659 million, according to Pal. This represents a 137% annual growth rate over the past nine years—a pace that significantly outstrips the internet’s adoption curve in its early stages.
Drawing a parallel between crypto and the rise of the internet in the 1990s and early 2000s, Pal suggests that blockchain technology is following a similar but much steeper trajectory. He believes that by 2030, crypto could reach 1 billion users, and under certain conditions, that number could soar to 4 billion, roughly one-eighth of the global population.
$100 Trillion Market Cap? Here’s Why Pal Thinks It’s Possible
In addition to predicting explosive user growth, Pal foresees the total market capitalization of the crypto sector potentially exceeding $100 trillion by 2032. He attributes this bullish forecast to a combination of rapid technological adoption and global currency debasement, which is driving investors toward decentralized alternatives.
However, not everyone shares Pal’s optimism. Some skeptics on X argued that wallet numbers may not reflect actual adoption, pointing out that a single user or project can own multiple wallets. Pal responded by comparing this to how internet adoption is measured by IP addresses—imperfect, but still a useful indicator of overall growth.
Independent estimates from firms like Triple-A and Andreessen Horowitz support Pal’s claims to some extent, suggesting the number of crypto users is currently between 560 million and 660 million, with around 30 to 60 million active each month.
