The former CEO of Goldman Sachs, referring to the level of activity around cryptocurrencies and Web3, claims that they are already flooded with venture capital investments. Raoul Pal is sure that when the macroeconomic turmoil subsides, the market capitalization of digital assets will increase dramatically.
"All the major Web2 players are involved in the financing of cryptocurrencies. It's subtle as they're being cautious as they move forward due to regulatory issues. But they know that this is what it's all about. I personally have never seen anything like it. Blockchain is similar to the Internet but is growing faster and larger in scale. It sounds crazy, but it adds value to all types of assets,"he stated.
According to Pal, there is a significant increase in the value of cryptocurrencies.
"The capitalization of almost all traditional asset markets is between $200 and $300 trillion. Cryptocurrencies will reach this mark probably in 10-15 years,"Raoul Pal predicted.
The analyst is convinced that the growth of capitalization in the cryptocurrency markets will be "the fastest and largest the world has ever seen."
"Traditional markets and cryptocurrencies are very different things. As soon as the macroeconomic situation changes, many projects will be launched. After all, so many companies have already invested venture capital in the cryptocurrency ecosystem,"said Pal.
The former CEO of Goldman Sachs states that $60 billion of venture capital has been invested in cryptocurrencies in the last 18 months alone. The analyst believes that in the next six to twelve months, the crypto industry will change, there will be many innovations, and the market will begin to develop and grow exponentially.
Experienced crypto trader Tone Vays said last week that Bitcoin will reach a six-figure price in 2023, even before the next miner reward cut.