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The biggest transformation in the crypto industry may not involve another Bitcoin rally at all. Raoul Pal and Tom Lee point to something much larger. To a world where AI agents, stablecoins, tokenized assets, and crypto payments become part of the financial system itself. Raul Pal says the demand for intelligence could become endless, with AI agents and robots potentially boosting GDP growth by 10-20% after 2030.
He also argues that stablecoins could become a mass buyer of short-term US debt as banks, Nasdaq, and large financial institutions race to implement blockchain. Tom Lee goes even further, arguing that money is becoming software and that AI agents will need payment systems capable of processing transactions thousands or even millions of times faster than today.
And, according to Lee, cryptocurrency could be a perfect fit for this new economy thanks to micropayments and stablecoin-based transactions. If these predictions are correct, we could be witnessing one of the biggest changes in money, finance, and crypto that has ever existed. In this video, we'll break down what exactly Raoul Pal and Tom Lee predict for the AI and cryptocurrency economy.
Why 2026 could be a critical turning point and what it will ultimately mean for Bitcoin, Ethereum, stablecoins, and . We cannot ignore the fact that this is the most liquidity-sensitive asset on the planet. The reason is that Bitcoin is the most scarce resource and it encourages further speculation beyond the risk curve, but it is also a technology.
And this is the most important part to understand. Let's take Ethereum for example, because it's simple, or Solana. It's just technology. These are technologies that allow you to do certain things. And what we see now is how the entire financial system is trying to implement them. So, it's not just about buying Ethereum.
They don't really care about it. Of course, investors are worried. But what they are really interested in is the use of blockchain. And Ethereum is the cost of a place in a block. In this sense, it is a currency. This is the right to use space in the block. And that's why we see the growth in popularity of stablecoins.
It's amazing how quickly they grow. And everyone is doing it now: from Stripe to Shopify, Circle—you name it . Everyone is developing their own stablecoins. So they made this decision. Scott Bessent says: well, that's where the liquidity for our debt will come from. We want to reach a trillion, two trillion, three trillion stablecoins.
Why? Because it means that the dominance of the US currency extends to the average person in a rice field in the Philippines who holds dollars in stablecoins, and that three trillion in stablecoins is a buyer of three trillion in short-term debt. Mm. Perfectly. This solves some of the problems. So stablecoins are good for everyone, which is why they were regulated so quickly.
This is an economic weapon. It is an economic superpower. This increases the velocity of money. It does everything you would expect it to. Next, banks are building infrastructure for asset tokenization. Funds, real estate, anything, because it's an effective way to do it. Perfectly. Then DTCC, which stores and clears all of this, does four quadrillion transactions a year or something like that.
Well, they are already building on that foundation. Nasdaq is building on this. So, the use of the technology is growing, but it is still in a relatively early stage. So speculators are what changes the situation. So , the construction process continues. Speculators are what changes the situation. Right now, development is still relatively early , except for stablecoins, which are growing rapidly.
Raul Pal makes a much larger argument for crypto than simply stating that Bitcoin can rise when liquidity improves. He describes a financial system that is moving to blockchain, and this shift could create a huge source of demand for digital assets. This video is sponsored by Raycon. I've been in reboot mode lately.
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Thanks again to Raycon for sponsoring this video. In this interview, Raul points to stablecoins as one of the clearest evidence that the transition is already happening. He says payments and finance companies are building stablecoin infrastructure because digital dollars move faster, increase the velocity of money, and potentially create a huge new buyer of short-term U.S.
debt. Recent events make this thesis even more difficult to refute. In July, DTCC successfully conducted operations in the US using tokenized assets in a real production environment, and the launch of a broader tokenization service is scheduled for October 2026. Nasdaq was directly involved in this achievement.
The adoption of stablecoins is also accelerating. Circle reported that USDC turnover reached $73.3 billion in the second quarter, while on-chain transaction volume reached $14.8 trillion, up 151% year-over- year. So, the bullish scenario is becoming clearer. The financial system is not waiting for crypto to become mainstream.
It is actively being built on blockchain, and Raul believes that speculation may follow the infrastructure as this transformation scales. This brings us to the much larger force that Raoul sees behind this shift. It's quite clear to me that by 2030 we won't have any idea how the world will actually work.
We literally won't know. This is an economic singularity. Yes, at that moment we simply won't know. What does it mean when you put an AGI brain into a robot? Do you know what it means when GDP growth can reach 20%? Who gets it, you say? An invisible economy of agents we can never see, touch, or talk to.
It's a wild world, isn't it? So I've been saying, you know, I've been very consistent all along that this period is pretty simple. We have an exponential era of technology that is developing at a crazy pace, which I started talking about 5-6 years ago, and we have never seen anything like it . And in your opinion, the central bank is forced to constantly devalue the currency, so our investments are still growing.
And we are participating in a race with China in which we cannot lose, we simply have no right to lose. These are human-level stakes . And China will say the same thing: they cannot lose to the US, because no, we cannot allow the world system to be run by one AI. This is impossible. Therefore, there are chances , and we have capital expenditures.
The biggest in history, planned by companies with huge amounts of money. Raul Pal believes that we are entering a period when predicting the economy is becoming almost impossible. His key thesis is that by 2030, artificial intelligence could become so powerful that methods for measuring productivity, growth, and even economic value could look completely different.
He calls this the economic singularity. Raoul points to the possibility of implementing general artificial intelligence in robots, creating machines capable of constantly performing useful work. If this happens on a large scale, productivity could increase well above historical averages. He even suggests that a 20% GDP growth could be possible in a world where intelligence and machines develop together.
There is another important part of his argument. Raul says governments will likely continue to increase the money supply and devalue currencies as they compete to fund this technological race. This could continue to push investors towards assets that can potentially protect purchasing power and tap into technological growth.
Recent spending on AI makes this thesis particularly interesting. Alphabet, Amazon, Meta, and Microsoft continue to pour huge amounts of capital into data centers and AI infrastructure in 2026. These costs are not proof that Raoul's most extreme prediction will come true, but they do show that the race he describes is already underway.
And if intelligence truly becomes the most valuable economic resource , the implications for technology and cryptocurrencies could be huge. The next question is how unstoppable , in Raoul's opinion, this intellectual race has become . providing wian change the markets. All of this comes straight to your email.
. Think about it. What is the demand for intelligence? He is infinite. Because intelligence itself, with the advent of agents, has its own demand for intelligence. Because intelligence is the only thing that continues to grow over time. So, I just want to say that this is the fastest and longest- lasting trend of Reed's Law.
There will be some cases of inefficient allocation of capital. There will be people who will ruin everything. There will be periods when markets will be nervous about all of this. But it cannot be stopped. Not in this greatest race that ever was—the race for intelligence. We are starting to see agents everywhere.
Elon just released a platform for agents. Everyone does it. It's literally everywhere. All this is happening. And now there are more, um, bots and agents on the internet than people, and it's growing exponentially. There are huge network effects from these things. They use computers, they use energy, you know, all of that, and it gives people jobs building data centers and all of the things we see.
But we also add robots to the equation. So, we're creating synthetic humans here. And what is this? It's productivity because these things are very productive. They are not sleeping. They are cheap to operate. Everything is so different. So what does this give? This creates crazy results for GDP. If GDP grows by 10% or 20%, which is quite possible after 2030.
It is quite possible to see this. It is very difficult to devalue a currency in a way that causes inflation. Raoul Pal argues that the demand for intelligence may be infinite. His argument is simple but powerful. Once AI can create more intelligence, these systems will generate additional demand for computing power, energy, data centers, and ultimately physical machines.
This creates a feedback loop that can continue to expand for years . Raul acknowledges that there will be failed investments along the way. Markets can get nervous, companies can spend too much money, and some AI projects will inevitably fail. But he doesn't believe these setbacks can stop the overall race because the incentives are simply too powerful.
We are already seeing evidence of this acceleration. Companies are implementing AI agents in software, business operations, research, customer service, and financial applications. The next stage is becoming increasingly physical: robotics companies are working on machines capable of performing real- world tasks.
This is important for cryptocurrencies, as Raul sees a close connection between technology and liquidity. Larger computing infrastructure requires huge capital, and a rapidly changing financial system requires programmable forms of money capable of circulating in these new digital economies. If AI agents eventually become economic entities, they will need ways to receive money, make payments, purchase servic.
This is where the cryptocurrency thesis becomes even more interesting, and Tom Lee has a very similar idea, but he approaches it from the perspective of the future of money itself. To some extent, the only reason traditional banking systems continue to operate successfully is because they have all the customers, and that is people.
So I think two things will happen that will make agents have needs that are different from humans, okay? And first of all, I think money is becoming software now that it' a certain number of bits. And that means other things can start to act like money . And in fact, we could already be making transactions using them .
We may think that there is fiat money like dollars and euros, but there are other assets like gold, stocks, cryptocurrencies, and, you know, reputation, but in reality, over time, they will all become monetary units. And that's why register of the banking system has to be based on a currency, like the dollar or the euro.
And if someone created a new currency, say, "Wisconsin state mone really rebuild the entire payment system for US and global banks. And secondly, these are micropayments, because in the future, if processes happen a thousand or a million times faster than today's transactions, the smallest unit will not be a penny.
Micropayments will be everywhere. I mean even payment installments. And cryptocurrencies are actually quite good for this , because, as you know, many of them things that cost one cent . And this works very well collection can happen efficiently. Because you have the appropriate units for that. may eventually face a serious problem.
Banks were built around human customers, but the new digital economy could contain billions of automated agents operating at speeds beyond human reach. In Lee's view, money is becoming software as it becomes increasingly digital and programmable. When value exists as software, other assets can potentially become usable as digital units of exchange.
This includes stablecoins, stocks, gold, cryptocurrency, and other tokenized assets. The biggest opportunity may come from micropayments. Lee notes that future transactions could happen thousands or even millions of times faster than today. At this scale, traditional payment systems become increasingly less efficient for ultra-small transactions.
Cryptocurrency is designed for such conditions, as digital assets can be divided into small units and transferred programmatically . Stablecoins can make this even more convenient by allowing digital dollars to move directly between users, companies, and eventually autonomous software agents . This already goes beyond theory.
Stablecoin legislation in the US has created a clearer regulatory framework as financial institutions continue to experiment with tokenized deposits, securities, and payments. This can create a powerful combination. AI generates more economic activity, and blockchain provides the infrastructure for the movement of value in that economy.
And Tom Lee is right: the greatest crypto opportunity may emerge when software itself becomes an economic participant. Raoul Pal and Tom Lee approach the future from different angles, but their arguments lead to the same result. Raul is focused on intelligence, liquidity, stablecoins, and the rapid transformation of the global economy .
Lee focuses on programmable money , micropayments, and the financial needs of AI agents. something more than an investment category. It becomes a potential infrastructure for an economy operating at machine speed. AI agents can create transactions that humans would never directly initiate. They can purchase computing power, access data, pay for software, trade assets, or interact with other agents.
For such an economy to function effectively, money must move almost instantly and at extremely low costs. Stablecoins could provide a component of a digital dollar, and public blockchains could provide the settlement infrastructure. Tokenization could move traditional financial assets onto the same tracks.
Importantly, this transition does not require everyone to suddenly start buying cryptocurrency. The financial system itself may first implement blockchain technology . That's why Raul's comments about banks, NASDAQ, stablecoins, and tokenized assets are so important. Infrastructure can be developed long before mass speculation begins.
If this transformation continues, Bitcoin, Ethereum, and other major cryptocurrencies could benefit from a digital economy that requires liquidity , settlements, and collateral. Therefore, the "bullish " thesis is much larger than the next market cycle. It's about whether cryptoassets will become part of the architecture of the future economy . Well, .
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