Although Bitcoin
$122,069.37
has recently set new price records, many investors have yet to engage with digital currencies, according to Pantera Capital’s Cosmo Jiang.
In an interview on CNBC’s Fast Money on October 8, Jiang explained that the perception of being “too late” to join the crypto market does not reflect the current reality.
Jiang pointed to a recent Bank of America survey showing that over 60% of investors still have no involvement with digital assets.
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He noted, “That’s quite a lot. And so the idea that digital assets, it’s too late in the game, isn’t true if most people don’t own it”.
He explained that while Bitcoin has gained greater recognition over the past few years, the cryptocurrency market is only now starting to receive more attention. Platforms like Ethereum
$4,517.60
and Solana
$225.28
, which serve as foundations for many blockchain-based technologies, are attracting interest.
He also spoke about how recent policy discussions and legislative developments may help expand the use and acceptance of these platforms. Jiang said:
The next step. And really what Congress legislation is really enabling is for the rest of the digital assets to really have their place. Ethereum, Solana.
Additionally, the demand for Bitcoin exchange-traded funds (ETFs) has brought more traditional investors into the industry. Jiang pointed out that many long-time holders are taking profits while new investors are stepping in.
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