Raoul Pal: Crypto Adoption Surges at Double Internet’s Pace - 4 Billion Users Incoming

Crypto's growth trajectory just left the internet in the dust—according to macro guru Raoul Pal, digital assets are expanding at twice the velocity of early web adoption.

The Coming Tsunami of Users

Pal's analysis points toward an unprecedented flood of four billion new participants entering crypto ecosystems. That's not gradual growth—that's a network effect avalanche rewriting global finance overnight.

Why Traditional Finance Can't Keep Up

While legacy banks debate custody solutions and compliance frameworks, crypto's adoption curve bypasses institutional gatekeepers entirely. Retail and emerging markets lead this charge—proving once again that innovation happens despite financial incumbents, not because of them.

Wall Street's playing checkers while crypto plays 4D chess—and four billion new users just joined the game.

Cryptocurrency adoption is accelerating faster than the early internet ever did. In less than a decade, the crypto user base has expanded rapidly, and experts say that if this momentum continues, crypto could reach billions of users by 2030.

Let us explore what is driving this rapid growth and how much further crypto adoption could go.

Crypto Adoption Outpaces Early Internet Boom

Analyst and Real Vision CEO Raoul Pal compares 5 million internet users to 5 million crypto wallets which shows that crypto is spreading at double the speed. He predicts if this growth continues, the global number of crypto users could reach 4 billion by 2030.

In just nine years, the user base has surged 137% annually to 659 million by the end of 2024. While the internet reached 187 million users by 2000 at a 76% annual growth rate.

He foresees that this could even take the market skyrocketing from $4 trillion today to $100 trillion in the early 2030s, driven by adoption and the ongoing devaluation of traditional money.

And that will take it from $4trn in market cap today to $100trn by 2032/2034 pic.twitter.com/36Xf9Nhbyq

Adoption, Not Price, Is the Real Driver

According to Pal, 90% of short-term crypto price movements are influenced by the debasement of fiat currencies. In the long term, crypto’s strength and outperformance over fiat come entirely from adoption.

For investors worried about volatility, Pal suggests looking at the bigger picture instead of panicking over short-term dips. He advises focusing on crypto’s overall growth trajectory rather than worrying about whether a particular month will be weak.

Some have questioned whether using wallet counts is a reliable measure of crypto adoption, as one person can create many wallets, just like one household can have multiple IP addresses. Pal argued that this isn’t a problem: everyone has multiple devices, VPNs, and travel connections, so the comparison is fair.

BCG Predicts $1 Billion Users By 2030

Pal’s research lines up with other industry forecasts. 

A 2024 report from Andreessen Horowitz estimates that between 30 and 60 million people actively use crypto each month. Meanwhile, Boston Consulting Group has predicted that the crypto adoption could potentially reach 1 billion users worldwide by 2030.

Developing Countries Are Leading the Way 

Coinpedia recently reported that, as per the Chainalysis Global Crypto Adoption Index in 2024, lower- and middle-income countries are leading in crypto use. India tops the list, followed by Nigeria and Vietnam, with the U.S. in fourth. 

Other high-adoption countries include the UAE, Singapore, Turkey, Ukraine, and the Philippines, Indonesia, Pakistan, Brazil, and Thailand.

With rising institutional investment, new ETFs, and clearer regulations, global crypto users are expected to top 950 million by year-end.