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Key Takeaways:Raoul Pal forecasts 4 billion crypto users by 2030, about one-eighth of the global population.He predicts crypto’s market cap could reach $100 trillion by 2032.Adoption growth outpaces early internet trends, though skeptics say wallet data inflates numbers.Pal cites currency debasement and adoption as main drivers of long-term growth.Crypto adoption on track to rival internet growthFormer hedge fund manager and Real Vision CEO Raoul Pal says crypto adoption could expand to 4 billion users by 2030, making digital assets one of the most widely used financial technologies in history.In an X post on Sunday, Pal compared crypto adoption rates with the early internet. He noted that while internet users grew 76% annually after hitting 5 million users, crypto wallets have expanded at a 137% average annual rate since 2014, reaching 659 million by the end of 2024.Pal estimates user growth will slow to 43% next year but still projects the industry crossing 1 billion users this decade.$100 trillion market cap projectionAlongside adoption, Pal forecast that total crypto market capitalization could surpass $100 trillion within the next decade, potentially as early as 2032.He attributed this growth to global currency debasement fueling asset appreciation and mass adoption driving outperformance.“Debasement explains 90% of price action (adoption explains 100% of outperformance vs debasement),” Pal said.Community skepticismNot all industry participants share Pal’s optimism. Critics on X argued that wallet growth is an imperfect metric, as multiple wallets per user and project-created addresses distort true adoption figures.One user noted, “I create a new wallet every six months and have been doing so for years,” while others pointed to inflated numbers from project-driven wallet farming.Pal countered that IP address growth in the early internet faced the same issue, yet adoption curves still held.Competing adoption estimatesOther reports offer more conservative figures. B2B crypto payments firm Triple-A estimated 560 million users by end-2024, while Andreessen Horowitz’s crypto arm said 30–60 million real monthly active users were participating as of October 2024.