25% of UK investors could get £1 million if they invest all their money in BTC in 2020

A new survey found that a quarter of UK investors would have made at least £1 million if they had invested all their assets in Bitcoin in 2020. But on the other hand, the study found that 31% of people would not invest in cryptocurrencies because they thought they had "missed the opportunity."

The latest research from British think tank Parliament Street shows that if 25% of British investors had invested all their wealth in Bitcoin in early 2020, they could have made a profit of 1 million pounds (1.39 million US dollars) or more.

The Great Cryptocurrency Report surveyed 2,000 UK investors about their confidence in crypto and their overall investment plans for 2021.

The survey found that 29% of respondents were attracted by the huge returns generated by the recent bull run, which has seen the price of bitcoin reach $56,000, or £40,000.

But on the other hand, the study found that 31% of people will not invest in cryptocurrencies because they think they have "missed the opportunity."

Investors revealed their price predictions in the survey, with 31% predicting that they expect Bitcoin to reach £50,000, or $69,000, this year, a 23% increase from its current price. A smaller group took a more bullish view, with 18% agreeing that they expect Bitcoin to reach more than £100,000 by 2021.

That pales in comparison to Kraken CEO Jesse Powell’s recent prediction that Bitcoin could reach $1 million within the next decade. Powell told Bloomberg that Bitcoin could replace all the world’s currencies if it were to do so.

“That basically means whatever the market cap of the dollar is, whatever the market cap of the euro is — all of that adds up to what Bitcoin is worth.”

Although some British investors' attitudes towards cryptocurrencies are changing, more than half of the respondents still have no interest in entering the market in the short term. The survey shows that 55% of respondents have no plans to invest in cryptocurrencies this year. In addition, 52% said they prefer to invest in traditional assets such as stocks and gold.

These results are supported by another UK survey published in February, which surveyed 6,070 UK residents aged 18 and over and found that 57% had no intention of investing in cryptocurrencies. (Cointelegraph)