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Real Vision CEO Raoul Pal is back with a big crypto call, arguing that AI and blockchain are starting to merge into one infrastructure layer for the global economy.
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Pal framed crypto less as a trading market and more as a permissionless ownership system. In his view, anyone with a phone can own part of the new financial infrastructure without going through the usual gatekeepers.
“We can own the infrastructure layer for the first time in history,” Pal said.
His latest $100 trillion forecast rests heavily on AI. Pal said AI adoption is moving at a pace he compared to “Metcalfe’s law squared,” with machines already producing more words each year than humans. He also warned that AI systems are moving toward “apex intelligence,” a stage that could reshape work, finance and everyday services.
That view ties directly into blockchain. AI agents need instant settlement, small automated payments and open access. Traditional banking rails were not built for that kind of machine-to-machine activity at scale. Public blockchains, by contrast, can support fast, programmable and borderless transactions.
Asked what could stop crypto adoption, Pal gave a blunt answer: “Nothing stops this train.”
Pal has also argued that all banks will eventually run on Ethereum, seeing the network as long-term financial infrastructure rather than just another asset. For investors, he recommends Bitcoin as a pure store-of-value position and a basket of major layer 1 networks for exposure to the coordination layer around AI and crypto.
He also pushed back against chasing every rotation. In earlier comments, Pal said capital often rotates between crypto assets without changing the longer-term trend. His preference remains core holdings over short-term bets.