It’s not too late to get in on the cryptocurrency and Bitcoin investment bandwagon, according to four leaders in the world of digital investments.

Investors who have not entered the world of cryptocurrency have not missed the boat, according to Brett S. Messing, partner and chief operating office at SkyBridge Capital, a global financial services firm based in New York City.

“It is early” in the development of the category, Messing said during a webinar sponsored by JConnelly Public Relations today. “Now is investors’ last chance to get in early.” The lack of availability works to the advantage of the category, he said. “There is not enough Bitcoin in existence for every millionaire to have some.”

The extreme volatility experienced by cryptocurrency during 2020 was not necessarily a bad thing. “Most of that volatility pushed Bitcoin investments upwards,” Messing said. But he added that investors should be looking a long-term investments to embrace the volatility.

Volatility creates two cohorts of people looking to invest in cryptocurrency: those who want to jump in on the upswings while they last, and those who want to buy on the dips, Messing said. 

Messing and other leaders agreed they are bullish on cryptocurrency.

“We are constructive on cryptocurrency right now, and investor sentiment can be described as quite bullish” explained Viraj B. Patel, managing director and head of asset allocation for Fiduciary Trust International, an international financial services firm based in New York City. Some of the factors driving the positive attitude include the threat of inflation for hard currency because of the money being put into circulation with the stimulus packages, and an increasing demand for a decentralized form of money, he said. In addition, the infrastructure for trading cryptocurrency is developing.

Institutional investors are becoming interested in digital currencies, which further boosts the market, said Gabor Gurbacs, director of digital assets strategy at VanEck, a global financial services firm based in New York City. Institutional investors are considering putting 1% to 3% of large portfolios into cryptocurrency.

The companies involved in digital currencies are going to see large numbers of mergers and acquisitions in the next few years, Gurbacs noted.

Regulations will be added over the next one to three years for this relatively unregulated asset class, said Ken Nakamura, CEO at GMO-Z.com Trust Company, a cryptocurrency financial firm with offices in Japan and New York City.

Gary Gensler, President Bidens’ pick to head of the SEC, is a good choice to provide clarity for future regulations, Messing predicted.

“Both institutional and retail investors will be looking at digital currency as a good hedge against the weakening dollar,” Nakamura added. “We also are bullish on Bitcoin, in part because banks are going to start taking it more seriously as an investment.”