Thirty per cent of investors will not invest in cryptocurrency because they feel they have “missed the boat”, according to new research prepared by think tank, Parliament Street.

However, 31% of investors admitted that they expect the price of Bitcoin to hit a £50,000 valuation this year – which would be an increase of nearly 40% compared to its current value of £35,000.

One in five (18%) even agreed that they expect the price of Bitcoin to hit a £100,000 valuation this year.

The report, titled The Great Cryptocurrency Report, includes findings from a survey of 2,000 UK savers about their investment plans and habits for 2021.

Parliament Street also revealed that 25% of surveyed investors believe that they would have made over £1m profit, had they moved all of their assets into Bitcoin at the start of 2020.

Commenting on the report’s findings, ITI Capital head of capital markets, Stephen Kelso, said: “Many traditional investors are still cautious of cryptocurrency’s volatility and have been cautious about adding it to their investment portfolios.

“The nomenclature ‘crypto currency’ has deterred many who have perceived it to be anti-establishment rather than as the increasingly relevant store of value against the rapidly accelerating debasement of fiat currencies.”

Kelso also suggested that Bitcoin’s decentralised structure makes it “more readily accessible” to investors without dependence on intermediary administrators and custodians.

“This is an attractive proposition to billions of investors around the world who do not benefit from the same confidence in the structure of financial markets as we can assume in the UK,” he added.

“We observe that these dynamics are an extension of the emerging markets (EM) investment phenomenon that has driven markets since EM GDP surpassed that of developed markets in 2007. This is why we expect interest in digital currencies to continue its upward trajectory as more investors look to diversify their portfolios.”

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