Who wouldn’t like to invest in Bitcoin back at the time when it was worth $100 or $200 dollars? Now it seems that the establishment regrets not to have invested before. Bart Chilton, a former financial regulator, said in Thursday that he wished he had invested in Bitcoin, or other cryptocurrencies, when he was warning everyone about them.
Who Knows the Future?
If we would have known in the past that Bitcoin was going to reach $20,000 in December 2017, everyone would have invested in it. The reality is that it was not clear where Bitcoin was heading. 2017 was a year in which the cryptocurrency space gained lot of attention and several investors decided to put their money in the cryptocurrency world.
“I wish I had been investing when I told everybody to be careful. I had a lot of my friends that said, ‘You told me not to invest’. They would have been millionaires,” Chilton said in an interview with CNBC.
Mr Chilton has also commented about regulations. He believes that cryptocurrencies are yet in the ‘wild west’ outside the futures market. But fluctuations decreased since the futures contracts started to operate, so it had a good impact over Bitcoin.
At the time of writing this article, Bitcoin is being traded around $13,775 dollars and almost without change in the last 24 hours.
Not the First Important Person that Regrets
Jamie Dimon, JP Morgan Chase CEO, has also said that he regrets saying that Bitcoin was a ‘fraud’. Back in September 2017, when cryptocurrency exchanges were banned in China and Bitcoin was in the middle of a price correction. Now that time has passed, he has said that he regrets making these statements.
Cryptocurrencies are being legitimized by more regulations that aim to control illegal activities around cryptocurrencies. Besides that, more institutional investors are putting their bets in cryptocurrencies as more mainstream financial institutions offer different options to operate with them. In the next weeks, Nasdaq could launch Bitcoin futures trading for its investors.