tl;dr
Despite Bitcoin’s surge, 60% of investors own no digital assets, according to Pantera Capital’s Cosmo Jiang, who argues the market still has vast untapped potential. With regulatory shifts, rising ETF demand, and altcoins like Ethereum and Solana gaining traction, the door for new investors may stil...
**Investors Still Have a Chance to Enter Crypto Market, Says Pantera Capital’s Cosmo Jiang**
Despite Bitcoin’s recent surge past $126,000 and its historic all-time high, many investors remain on the sidelines, according to Cosmo Jiang, a general partner at Pantera Capital. Jiang emphasized that the cryptocurrency market still has significant room to grow, with most investors lacking exposure to digital assets.
In a recent appearance on CNBC’s *Fast Money*, Jiang highlighted a Bank of America survey showing that over 60% of investors own zero digital assets. “That’s quite a lot,” he said, dismissing the notion that it’s too late to enter the market. “If most people don’t own it, the idea that it’s too late isn’t true.”
The data supports this view. A 2025 report by the National Cryptocurrency Association revealed that only 21% of American adults own cryptocurrency, while the United Arab Emirates leads global adoption at 25.3%, according to a September report from the ApeX Protocol. These figures underscore the vast untapped potential in the space.
However, rising prices may be deterring some investors. Tom Bruni, head of markets at Stocktwits, noted that Bitcoin’s volatile climb could scare away those who feel they’ve missed the boat. “People might think they’ve already missed the opportunity,” he told *Cointelegraph* in September.
Jiang, however, sees opportunity in the next phase of crypto evolution. He argued that after years of legitimizing Bitcoin, the focus is now shifting to altcoins. “The next step is for the rest of the digital assets to have their place,” he said, citing Ethereum and Solana as examples of “large tech platforms” growing rapidly. Solana, in particular, is viewed as a potential “next-generation mega-cap tech company.”
Legislative developments in the U.S. are also shaping the landscape. The GENIUS Act, signed by President Donald Trump in July, aims to regulate stablecoins, though final rules are pending. Meanwhile, the CLARITY Act, which seeks to clarify the regulatory framework for digital assets, is expected to reach Trump’s desk by year-end.
Beyond legislation, crypto is gaining traction through exchange-traded funds (ETFs). Jiang pointed to “overwhelming demand” for Bitcoin ETFs, noting that net inflows last week reached $3.24 billion—nearly matching the record set in November 2024. “This year is all about headwinds becoming tailwinds for crypto,” he said, adding that ETFs are driving “solid flows from profit takers to new buyers.”
As the market continues to mature, Jiang’s message is clear: While Bitcoin has captured the spotlight, the broader crypto ecosystem—especially altcoins—offers substantial growth potential. For investors still on the fence, the door may not be closed after all.