Investing in Crypto: Is It Too Late or Just the Right Time?

While bitcoin reaches a new all-time high at $126,000, the prevailing sentiment is that the market is already inaccessible. However, contrary to this impression, recent data paint a very different picture. According to Cosmo Jiang, partner at Pantera Capital, over 60% of investors still have no exposure to cryptos. This revealing figure reminds us that the majority of the adoption potential is yet to come.

Still marginal adoption

Despite a bitcoin that just surpassed $126,000, setting a new all-time high, many investors remain convinced it is too late to enter the market.

This perception is exactly what Cosmo Jiang, partner at Pantera Capital, sought to correct during his appearance on CNBC. He stated: “There’s a Bank of America survey from a few weeks ago that showed more than 60% of investors still own 0% exposure to digital assets“.

This statement is not based on intuition but on solid figures revealing a largely underexploited market. Here are the key data points:

• Over 60% of investors (all profiles combined) currently have no exposure to cryptos, according to a recent Bank of America study;

• In the United States, only 21% of adults own cryptos;

• Worldwide, even the most advanced countries in terms of adoption remain below 30%. The United Arab Emirates leads with 25.3% adoption.

These figures show that despite the market’s spectacular performance, the majority of investors, both retail and institutional, are still outside the crypto ecosystem. Far from indicating a saturated market, this observation rather points to an early phase of the adoption cycle, where the growth potential remains very significant.

Bitcoin legitimized, altcoins take over

Besides the still significant growth potential of the market, Jiang believes that, from Pantera’s perspective, the last few years have mainly served to legitimize bitcoin. Now, people have understood its value, and it’s the altcoins’ turn to take the spotlight.

The shift mentioned here is clear. Bitcoin’s pioneering role is now institutionalized, and the market momentum is turning to altcoins, perceived as infrastructures with strong technological potential.

In this perspective, Jiang even goes as far as to say “Solana is on its way to becoming what a next-generation mega-cap tech could be.” This strategic market repositioning coincides with a major regulatory shift in the United States.

Two legislative texts in particular focus attention: the GENIUS Act, already signed by President Trump in July, and the CLARITY Act, centered on the crypto market structure, which could be adopted by the end of the year. Meanwhile, flows into Bitcoin ETFs are exploding, reaching $3.24 billion in net inflows last week, a level almost equivalent to their record in November 2024.

This new cycle, fueled by massive institutional flows and ongoing regulatory clarification, creates an unprecedented environment for altcoins. If bitcoin, which aims for gold status, retains its role as a store of value, investors are now looking beyond, towards projects capable of delivering concrete uses, decentralized infrastructures, and large-scale innovations. This year-end could thus mark the beginning of a new era where crypto market growth will no longer rely solely on bitcoin’s legitimacy but on the maturation of a diversified, structured, and institutionalized ecosystem.