A new survey suggests that Bitcoin’s high price may be putting off curious investors.
According to the think tank Parliament Street, 30% of Britons are not planning to invest in cryptocurrency because they believe they’ve “missed the boat.”
Notwithstanding, 31% of those polled believe that BTC has further room to run and could hit $70,000 at some point in 2021. Meanwhile, 18% expect that the world’s biggest cryptocurrency will reach dizzying highs of $140,000.
And in a sign that many investors regret not getting into crypto sooner, 25% revealed that they would have generated a £1 million profit if they had gone all in on Bitcoin in January 2020.
Stephen Kelso, head of capital markets at ITI Capital, was quoted in the think tank’s report as saying:
“Many traditional investors are still cautious of cryptocurrency’s volatility, and have been cautious about adding it to their investment portfolios.”
A Nonsensical Argument?
Some heavyweights in the crypto space have reacted with exasperation at this sort of mentality.
Among them is Cameron Winklevoss, who turned to Amazon’s stock to make a powerful point. He noted that shares in the e-commerce giant were trading at $133 back in 2010 — prompting some investors to think they had missed the boat. Fast forward to today, and the stock has hit highs of $3,552. He tweeted:
“If you are reading this, you are early to Bitcoin … Don’t fixate on the past, focus on the future potential.”
Another quirky example he gave came from Forrest Gump, who famously says in the film that he doesn’t have to worry about money because he invested in “some kinda fruit company.” The Gemini executive added:
“He was referring to Apple in 1994, pre-iPod, pre-iPhone, etc... that's Bitcoin today. So much more left to go.”
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