In a recent survey, “The Great Cryptocurrency Report” that polled 2,000 UK-based investors about their confidence in crypto and general investment plans for 2021, nearly one third of the respondents said that they will not invest in crypto because they feel that they have ‘missed the boat’.
Despite this, one in five (18%) said that they expect the price of Bitcoin to hit a £100,000 valuation this year. Furthermore, 25% of investors revealed that they would have made over £1 million profit, had they moved all of their assets into Bitcoin at the beginning of 2020.
Even more intriguing is that 37% of investors feel that traditional assets, such as stocks and shares, are too risky to invest in at this point in time, due to the economic downturn caused by the COVID-19 pandemic. As a result, cryptocurrencies, especially Bitcoin, have surged to new All-Time Highs over the past few months.
These factors have caused Bitcoin and other cryptocurrencies to become an increasingly legitimate investment option. 29% of investors revealed that they would never have considered investing in cryptocurrency before the most recent Bitcoin bull run, but they are now.
Large companies, like MicroStrategy and Tesla, have also played an important role in boosting investor confidence. According to a survey by ITI Capital, 24% of the respondents said that Elon Musk’s endorsement gave them more confidence to invest in cryptocurrency.
Unfortunately, not everyone is convinced by the current bull market, a massive 55% of the respondents revealed that they have no plans at all to invest in cryptocurrency this year, with 52% admitting that they are still more likely to invest in traditional assets, rather than crypto.
Additionally, 52% admitted that they are still more likely to invest in traditional assets than cryptocurrency.
Do you feel that it is too late to invest in Bitcoin? Tell us what you think in the comment section.
Feature image by MayoFi from Pixabay
