Raoul Pal Predicts 4 Billion Crypto Users by 2030, $100T Market Cap — Is It Realistic?

Raoul Pal, former Goldman Sachs executive and Real Vision co-founder, projects cryptocurrency adoption could surge to 4 billion users by 2030, propelling market capitalization to $100 trillion. His analysis hinges on crypto wallet growth rates, which he claims outpace early internet adoption metrics. The forecast implies a staggering leap from today’s $4 trillion market cap—a trajectory fueled by adoption and monetary debasement, the latter accounting for 90% of crypto price action.

Critics challenge the optimism, pointing to inflated wallet metrics. While 820 million active wallets were reported in 2025, a16z research suggests only 30-60 million represent genuine monthly users. The discrepancy underscores the debate over whether wallet proliferation reflects true adoption or statistical noise.