New research from the United Kingdom think tank Parliament Street outlined that around 25% of British investors estimate they might have made £1 Mln or more [$1.39 Mln] in profit by investing all their wealth in Bitcoin at the beginning of 2020.
The survey “The Great Cryptocurrency Report” surveyed over 2k British investors about their confidence in cryptocurrencies and general investment plans for this year.
The poll found that 29% of respondents had been encouraged to take a position by the outsize returns generated within the latest Bull Run in which Bitcoin prices have hit $56k, or £40k.
But talking on the other side of the ledger, the research found that 31% won’t invest in crypto assets as they still believe they have already “missed the boat”.
Investors explained that their price predictions within the survey, with 31% predicting that they expect the worth of Bitcoin to hit £50k, or $69k, by this year, a 23% increase from the present prices. While a smaller number holds a more bull run view, with 18% agreeing that they expect Bitcoin to hit over £100k within this year in 2021.
That still pales as compared to Kraken CEO Jesse Powell’s recent prediction Bitcoin will reach $1 Mln within the subsequent decade. Powell told Bloomberg that if Bitcoin were able to replace all of the world’s currency:
“That basically means regardless of the market cap of the dollar is, the Euro — all of that combined is what Bitcoin might be worth.”
While the attitudes of some UK investors are changing towards crypto assets, over half of respondents still haven’t any interest in entering into the market anytime soon. The poll revealed that 55% of respondents haven’t any plans to take a position in cryptos in the least this year. Additionally, 52% expressed that they’re more likely to take a position within the stock exchange and traditional assets like gold.
These results are backed by another United Kingdom-based poll revealed earlier in the month of February, that surveyed 6,070 British residents above 18 & found that 57% haven’t any desire to take a position in crypto assets.