25% of UK investors would’ve made £1 million by going all-in on BTC in 2020: Survey

A new survey by UK think tank Parliament Street shows that 25% of UK investors would estimate a profit of £1 million or more ($1.39 million) if they invested all their assets in bitcoin by early 2020.

The Great Cryptocurrency Report polled 2,000 UK investors on their confidence in cryptocurrencies and their overall investment plans for 2021.

The survey found that 29 percent of respondents were interested in investing at the expense of windfalls made during the latest bull market, in which the price of bitcoin reached $56,000, or £40,000.

But on the other hand, the study shows that 31% of respondents will not invest in cryptocurrencies because they think they have already missed out on something.

Investors gave their price predictions in the survey. 31% predicted that the price of bitcoin would reach £50,000 or $69,000 this year, up 23% from the current price. A smaller number are more optimistic: 18% expect bitcoin to exceed £100,000 by 2021.

That number still pales in comparison to Kraken CEO Jesse Powell’s recent prediction that bitcoin will reach $1 million in the next decade. Powell told Bloomberg that if bitcoin could replace the entire world currency:

This essentially means that the market rate of the dollar, the euro and all of these together is the value of bitcoin.

Although some UK investors’ attitudes towards cryptocurrencies are changing, more than half of those surveyed still do not want to enter the market any time soon. The survey shows that 55% of respondents do not plan to invest in cryptocurrencies at all this year. In addition, 52% said they were more likely to invest in the stock market and in traditional assets such as gold.

These results are confirmed by another British study published in February. This polled 6,070 Britons over the age of 18 and found that 57% of them do not want to invest in cryptocurrencies.

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