Raoul Pal, a macro expert and CEO of Real Vision, said he expects a “big breakthrough” in one crypto sub-sector.
In a new interview on the Empire podcast, the former Goldman Sachs executive says gaming applications are entering a new adoption phase that could help spark growth for the digital asset class.
“Once we start looking at simple user applications, the game starts happening, and I think that’s going to be a big breakthrough.”
Arm added that the expected surge in cryptocurrency adoption won’t be limited to blockchain-based games. He says he expects cryptocurrency applications to see a huge surge in user adoption in the coming months.
“But we have so many of these consumer apps. The old movement from Web2 to Web3, from the ‘old internet’ to the ‘new internet,’ that’s going to happen at scale, and I think we’re really going to start that cycle.”
Pal also believes that “the entire market is going to go up significantly,” predicting Solana (SOL) to go up 10x and Bitcoin (BTC) to go up 4x or 5x from current prices.
He also said there will be large transactions that will likely involve another layer 1 blockchain.
“The most important thing I started thinking about is that there’s always going to be another layer 1 race. It’s early days, it’s not a proven network effect. That bet is actually a good bet. It’s not an all-in bet. But that bet was the Solana bet last cycle, the ETH bet the cycle before…
So I think about it, there are some really good deals out there, really fun, but they go very quickly, they’re usually overvalued, and then they go down 95% after that.”
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