30% of U.K. investors feel they have “missed the boat” for Bitcoin

A recent survey threw light on how UK investors viewed Bitcoin as an investment. Some said they would invest more, while others think they have already “missed the boat.”

Missing the boat? Maybe not

A survey by policy think tank Parliament Street found crypto investors in the country had mixed feelings for Bitcoin’s future prices. Some said they would invest more, while others think they have already “missed the boat.”

The survey consisted of over 2,000 UK citizens who identified as “investors” to assess their crypto and general investment plans.

A significant chunk of surveyed investors said they missed out on a potential profit of over $1.2 million had they moved all of their assets into Bitcoin at the start of 2020.

However, 30% of all respondents said they would not invest in Bitcoin as they had “missed the boat.” The asset has surged from under $5,000 last year to over $55,000 at press time—with some feeling the steam could be over.

While some felt they had missed the train, 31% of respondents said Bitcoin would reach over $69,000 in this year. 18% of the respondents had an even bullish prediction, with a target of $130,000 per Bitcoin or more.

37 percent of investors noted that ‘traditional’ assets, such as stocks and shares, were too risky as investments in current times due to fears of overinflation, incessant money printing, and a falling economy.

“As a result, cryptocurrency, and especially Bitcoin, has become an increasingly legitimate option as an investment asset, with 29 percent revealing that they would never have considered investing in cryptocurrency before the most recent bitcoin bull run, but they are now,” noted the survey.

Bitcoin allure

Such fears are the same echoed by the likes of MicroStrategy, Tesla, and other billionaire investors. Bitcoin is—after years of existence—been considered as the quintessential “macro” hedge by a cohort of influential investors.

The corporate actions have caused some to have greater trust in cryptocurrencies. 24% of all respondents said Elon Musk’s recent endorsement of Bitcoin—via his company’s $1.2 billion purchase of the asset last month—made them more confident to invest in the sector.

Meanwhile, the picture was not all rosy. 55% of all surveyed investors said they remained skeptical of Bitcoin’s recent bull run, adding they had “no plans at all” to invest in any cryptocurrencies this year.

Like what you see? Subscribe for daily updates.

Source link

Latest articles

Major UK bank NatWest won’t serve businesses dealing in crypto

National Westminster Bank (NatWest), a major retail and commercial bank in the U.K., will stop serving any businesses that accept or...

BSC mania: Binance & Mr. Beast invest in NFT marketplace Refinable

Refinable is the first NFT marketplace on Binance Smart Chain (BSC), which has recently started to close the gap on Ethereum...

Data shows institutional demand for Ethereum surged despite the recent crash

Data shows institutional demand for Ethereum surged despite the recent crash | CryptoSlate Earn up to 12% APY on Bitcoin, Ethereum, USD,...

Legendary investor who bought Bitcoin at $350 says this rally is just beginning

American investor Bill Miller says Bitcoin’s (BTC) fabled bull run is only getting started despite the asset’s nearly 700% price increase...

Related articles

Leave a reply

Please enter your comment!
Please enter your name here