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2021 has been a banner year for crypto with coins such as Bitcoin (BTC) and Ether (ETH) setting new all-time highs during the period. In fact, the crypto market briefly soared past $3.0 trillion in November 2021, before sliding down to $2.2 trillion at the start of 2022.
While the crypto market has not yet recovered to its November 2021 level, many are still optimistic that the market will eventually recover down the road. In fact, former Goldman Sachs hedge fund manager and Real Vision CEO Raoul Pal believes that the entire market could increase by 100 times in just none years, according to Cointelegraph.
Pal told podcast Bankless Brasil that “there is a reasonable chance” that the total market cap of the global crypto sector could grow as high as $250 trillion as long as the crypto network adoption continues on its trajectory. The CEO noted that other markets and assets classes such as real estate, bonds, and equities have market caps between $250 trillion and $350 trillion.
“If I look at the total derivatives market, it’s $1 quadrillion,” Pal elaborated. “I think there’s a reasonable chance of this being a $250 trillion asset class, which is 100X from here, which would be the largest growth of any asset class in all of history in the shortest period of time.”
For this to happen, crypto adoption must also reach the same level as those of other asset classes. “That will pretty much dovetail in with the idea that 3.5 billion people are using it — that’s just extrapolating the growth numbers of the network,” he added. “So if [there are] 3.5 billion users in 2030, well the market cap’s going to be something like $250 trillion,” he added..”
However, it won’t likely be a linear climb all the way to a $250 trillion market cap. The crypto market has been volatile this week with major coins such as Bitcoin (BTC) and Ethereum (ETH) experiencing pullbacks since the year started.
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