The total number of cryptocurrency users might reach 4 billion by 2030, as per former hedge fund manager and crypto advocate Raoul Pal.
In a recent X post, Pal provided data comparing the rate of crypto user adoption to that of internet users following innovations that achieved 5 million users.
He analyzed the number of crypto wallets in relation to IP addresses.
Pal highlights that the crypto user base has expanded by 137% annually over the past nine years, reaching 659 million users by the end of 2024. In comparison, the number of internet users reached 187 million by the end of 2000, with a growth rate of 76%.
He anticipates a moderate growth of 43% for crypto users next year, aiming for 1 billion total by 2030, which would represent one-eighth of the global population.
$100 trillion market capitalization
Pal’s optimistic forecast also predicts that the cryptocurrency market capitalization could exceed $100 trillion within the next decade, potentially as early as 2032.
According to Pal, the main drivers for this growth will likely be debasement and adoption.
“Debasement accounts for 90% of price movements (adoption contributes 100% to outperformance against debasement),” stated Pal, who leads the financial knowledge platforms Real Vision and Global Macro Investor.
Related: Exponential currency debasement: ‘You don’t own enough crypto, NFTs’
Community questions Pal’s optimistic view
Some responses to Pal’s X post indicate that he may be overestimating the situation.
One X user mentioned that the number of wallets is not a reliable measure of growth, while another suggested that a founder could simply create “10,000 wallets and distribute coins to simulate a community.”
Another user noted that they generate a new wallet every six months and have done so for the past four years.
In response, Pal countered by stating that many people use multiple IP addresses as well.
According to the B2B digital currency platform Triple-A, there were over 560 million crypto users by the end of 2024.
Meanwhile, a report by Andreessen Horowitz’s crypto division from October 2024 indicates around 30 million to 60 million active crypto users monthly.
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