Parliament Street stands as a UK-based Think Tank, and has recently revealed some riveting research. According to this research, a total of 25% of all UK-based investors would’ve made as much as £1 million ($1.39 million) or more in profits if they had only thrown every shred of caution to the wind and gone all-in on Bitcoin investments at 2020’s start.
Bitcoin Investments Increasing At UK Investors
The survey itself, quite appropriately titled “The Great Cryptocurrency Report”, did a survey of 2,000 UK-based investors. This survey inquired primarily about their general plans of investment for 2021 and their confidence in cryptocurrencies in general.
In this poll, it was revealed that 29% of all respondents had been encouraged to start making investments into Bitcoin, basing this on the large returns the space can potentially provide. A prime example is the latest bull run, which saw Bitcoin reach a price of $56,000 or £40,000.
31% Of Respondents Believe They Missed Out
Another big portion of the survey, however, 31%, had revealed that they have opted out of crypto investments. The ironic part is the fact that there’s no negative sentiment in light of these motivations. These investors are convinced they missed the boat, so to speak, and the major profits for Bitcoin cannot be achieved once more.
As for the price predictions of these investors, that varies a bit. The biggest portion of these investors, that is 31%, are convinced that Bitcoin will reach the £50,000 mark, translated to around $69,000. This would signify a price increase of 23% from today’s price data.
However, as is always the case, there are far more bullish estimates out there. 18% of the survey participants are convinced that Bitcoin will reach £100,000 by the end of this year, which translates to around $139,500 per Bitcoin.
Some Crazy Predictions
It should be noted that some even wilder estimates have risen as to how much Bitcoin will be worth by the end of this year. Taking pure statistics in mind, if Bitcoin repeated the same percentage-based price cycles it did in the last bull run, the asset will be worth around $370,000 by the end of the year.
One of the other crazy predictions is a $1 million price tag per Bitcoin within the next ten years. This prediction, in particular, was given by Jesse Powell, the CEO of Kraken.
— Bloomberg TV (@BloombergTV) March 4, 2021
From there, Powell went a bit full-tilt Bitcoin bull. He speculated that Bitcoin could potentially replace the world’s currencies, and if it were to do that it would hold the price cap of all those currencies combined.