Markets
$100 trillion for the crypto market? Raoul Pal says yes by U.Today
U.Today – Raoul Pal, known for his provocative macroeconomic views, has sparked interest with his recent comments on the trajectory of the cryptocurrency market. In a thought-provoking post, Pal delved into the nuances of what he calls “The Code of Everything,” explaining how the global liquidity cycle since 2008 has shaped macroeconomic trends.
According to Pal, this cycle, characterized by near-perfect cyclicality, has been instrumental in driving growth assets, especially technology stocks and cryptocurrencies, to new heights.
At the heart of Pal’s thesis is the idea that the depreciation of fiat currency, caused by increased liquidity to service debt obligations, serves as a catalyst for rising asset prices. He argues that this phenomenon, combined with the rapid adoption of cryptocurrencies, similar to the exponential growth of the Internet, could pave the way for a monumental increase in the market capitalization of cryptocurrencies.
Pal predicts staggering growth from $2.5 trillion to $100 trillion, supported by Metcalfe’s Law and fueled by unprecedented levels of adoption.
Chris Burniske, former head of crypto at ARK Invest, agreed with Pal’s optimistic outlook, stating that the cryptocurrency market could witness monumental growth, reaching $10 trillion in the near term and rising to $100 trillion in the future.
Pal enthusiastically endorsed Burniske’s vision, emphasizing that there is a consensus in certain sectors of the financial community about the transformative potential of cryptocurrencies.
As of now, according to TOTAL Index Group, the crypto market capitalization is estimated at $2.213 trillion, of which (BTC) holds $1.22 trillion, which represents more than 55% of the total value . (ETH) occupies just over $350 million, with the remaining $640 million somewhat distributed among all other altcoins.
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