Raoul Pal Sees Crypto's Next Supercycle in AI-Driven Economic Singularity

Global Macro Investor founder Raoul Pal believes that the recent drawdown in crypto is just a mid-cycle fall, not the end of a full cycle. He predicts that the market's biggest move will come later this decade when AI agents push the economy into an 'economic singularity' around 2030.

Pal explained that the current setup resembles 2019 and 2020, when Bitcoin traded flat for months before rallying to record highs in 2021. He notes that the four-year cycle has fooled people, causing them to wait for one last dip that did not come, and instead, buying has come from those who missed it.

The 'economic singularity' is expected to bring GDP growth of 20% to 30% in the early 2030s, according to Pal. He believes that AI agents need a coordination layer for value and identity, which blockchains are well suited to provide.