The second line onward is the body.
In an interview with Real Vision, founder Raoul Pal outlined key insights on how the digital asset market might move in the future. He identified global liquidity changes as a major variable, arguing that falling interest rates and weaker dollar could spur capital inflows into digital assets.
Pal said he has built a long‑term portfolio of layer‑1 blockchains such as Bitcoin (BTC), Ethereum (ETH) and Solana (SOL), noting that high‑risk projects should be capped at 10–20 %. He warned that the main drivers of losses for retail investors are short‑term speculation and excessive leverage, labeling this approach “Don’t fuck this up thesis.”
He highlighted how traditional financial institutions have taken note of blockchain activity; as Nasdaq and the US Treasury’s DTCC push tokenization, he expects integration between digital asset ecosystems to accelerate. He sees a high likelihood that global finance systems will shift toward blockchain by 2030.
While not giving concrete price targets for Bitcoin, Pal suggested that it could reach $1 million by 2030 or 2032, judging this plausible given ETF and institutional currency‑expansion possibilities. For Ethereum, he said the core layer‑1 has a per‑user TVL of about $200k and is undervalued relative to stablecoins and DeFi; Solana, while a key long‑term asset like BTC and ETH, has a per‑user economic yield of roughly $2 500—lower than Ethereum—and its network activity focuses on token trade. He also noted that Sui (SUI) is an early‑stage asset; with 1,024 block transactions per second and strong private infrastructure, it could become a blockchain linking AI agents and traditional finance systems.