The optimistic predictions about Bitcoin and the general crypto space continue to pour in these days. The latest one comes from Raoul Pal.
The macroeconomics guru and Real Vision co-founder predicted that the entire crypto ecosystem will be worth hundreds of trillions of dollars. Now, Bitcoin continues to suck liquidity from other asset classes.
The crypto market will explode
On Twitter, he told his followers that the value of the whole crypto market would exponentially exceed the expectations of the investors who are pouring their money into the crypto space today.
This space will not be a $1.7trn ecosystem as it is today but a multi-hundred trillion dollar ecosystem eventually.
You can embrace change or fight it, but you owe it to yourself to understand it as the pace of innovation is going exponential too…
— Raoul Pal (@RaoulGMI) March 7, 2021
He also made sure to add that many of today’s analysts and investors are missing the big picture as they look at Bitcoin through a conventional lens.
“I’m finding it fascinating to see traditional finance and business people first trying to get their heads around BTC, then other crypto protocols, then Defi, and now NFTs. At every single stage in the rapidly evolving ecosystem, they have used mean-reversionist thinking as opposed to exponential network effects analysis, and therefore everything looks like a bubble or a misallocation of capital.”
Pal also posted the following tweet:
As the internet of value and trust accelerates, it is going to destroy more large old business models than maybe the internet itself.
I know this sounds grandiose and hyperbolic, but the TAM of the transfer, storage, accretion of value is the largest and most valuable on earth.
— Raoul Pal (@RaoulGMI) March 7, 2021
At the moment of writing this article, BTC is trading in the green, and the king coin is priced at $54,674.91.
