Real Vision CEO Raoul Pal made statements for both stock and digital asset investors.
The former Goldman Sachs executive says in a new interview with Delphi Media that the US economy is going through a “severe” correction that he says will likely force the Federal Reserve to intervene and support markets.
“The point is, we have the worst ahead of us. Not exactly priced in by the markets. This will be faster than people expect. It will be more severe than people expect, and then we can look forward.”
Pal says that looking at crypto, it continues its long-term rise in the emerging asset class, and digital assets are still governed by the Metcalfe Act, which states that the value of a network increases as the number of users on the network increases.
“People didn’t leave the crypto ecosystem like they did in 2018, so we’ve had a lot more sloppy side-spacing and I think adoption continues, and if it continues that way, by 2030, we’ll finally have five billion people will use cryptocurrencies.”
Pal, considering a possible slowdown in adoption rates, says:
“Last year, we had an adoption rate of 186%. You can see what it’s like compared to the internet. Overall, it’s about twice the internet adoption rate, and that’s truly extraordinary. Even assuming some slowdown, we’ve seen whether the internet slows down at the same rate as the percentage change after six years, starting at five million users. After that, it started to slow down 43%. If we set the same amount, we would get 76% growth in crypto. We will reach 2.8 billion users in the next four years.”
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