According to a recent poll, 25 percent of UK investors would have made profits in excess of £1 million if they had massively invested all of their wealth in Bitcoin since last year.
The survey, which had about 2,000 British investors questioned about their trust in cryptocurrencies and their investment plans for 2021 saw 29 percent of the respondents say their interest in crypto was pushed by huge returns made during Bitcoin’s bull run which saw the value of the asset rise to as high as $56,000 (£40,000). 31 percent of the investors also said they wouldn’t be investing in crypto because they believe they are late to the show already.
When questioned about what the value of the asset could be, 31 percent of the respondents said they expectEd the price of Bitcoin to go as high as £50,000 in 2021, up by 23 percent from the current price. 18 percent of them believe it could go way higher, they believe that the leading crypto asset could be worth in excess of £100,000 before this year ends.
Their prediction pales significantly against gang of Jesse Powell, the CEO of Kraken who says Bitcoin’s price would hit $1 million before the end of the next decade. According to him, this would be achieved if BTC is able to effectively replace fiat currencies as it would mean that “whatever the market cap of the dollar is, the euro — all of that combined is what Bitcoin could be worth.”
Though attitudes and sentiments of UK investors are beginning to change about crypto, a sizable number of them still have little to no interest in the digital asset industry. The poll shows that over 50 percent of the investors have “zero interest” in investing in the crypto space anytime soon. A bulk of them also said they would rather invest in traditional markets like stocks and gold instead of crypto too.
Results of this poll follows that of an earlier poll conducted in February. According to this poll, about 57 percent of the respondents said they were not interested in investing in crypto too.