Survey finds 25 per cent of UK investors would have made £1m profit on BTC
A new survey has found that a quarter of investors in the UK would have made millions in profits if they had invested in Bitcoin in 2020.
New research from UK think tank Parliament Street has found that 25 per cent of UK investors estimate they would have made £1m or more in profit if they had Bitcoin Profit review invested all their assets in Bitcoin in early 2020.
The survey, titled „The Great Cryptocurrency Report“, asked 2,000 UK investors about their confidence in crypto and general investment plans for 2021.
The survey found that 29 per cent of respondents were persuaded to invest by the outsized returns achieved in the recent bull run.
But on the other hand, the survey also found that 31 per cent would not invest in cryptocurrencies because they believe they have already „missed the boat“.
Investors also gave their own price predictions in the survey. 31 per cent said they expect the bitcoin price to rise to around US$69,000 this year. That would correspond to an increase of 23 percent over the current price. Only a few of them are even more optimistic. 18 percent expect Bitcoin to reach over 100,000 pounds in 2021.
Compared to Kraken CEO Jesse Powell’s forecast, this is even more conservative
He predicts Bitcoin will rise to $1 million within the next decade. Powell told Bloomberg when asked what would happen if Bitcoin could replace all the world’s currencies:
„That would mean that the market capitalisation of the dollar and the euro together would add up to what Bitcoin could be worth.“
Attitudes towards cryptocurrencies are changing among some UK investors at the moment, but more than half of those surveyed still have no interest in entering the market any time soon. The survey found that 55 per cent of respondents have no plans to invest in crypto at all this year. In addition, 52 per cent said they would rather invest in the stock market and traditional assets such as gold.
These findings are supported by another survey conducted in the UK in February. This surveyed 6,070 British residents over the age of 18. It found that 57 percent would not invest in cryptocurrencies.