Cosmo Jiang, General Partner at American venture capital firm Pantera Capital, believes it's not too late to buy cryptocurrency.
On October 6, the price of Bitcoin hit a new record, reaching $126,309, a third higher than the level reached in early 2025, while the price of Ethereum is hovering around $4,670, just 6% below its previous peak of $4,958. Buying virtual currencies at highs is traditionally high-risk, but Jiang advises buying coins despite the growing risk of a dump.
According to a survey conducted by Bank of America several weeks ago, over 60% of investors don't own digital assets. That's a significant number. Therefore, thinking it's too late to enter the market is wrong. Most people haven't bought virtual currencies yet, said Cosmo.
Jiang believes the bullish rally in the digital asset market will continue thanks to strong capital inflows. According to him, many cryptocurrencies have risen in price this year because stock investors have been actively investing in both virtual currencies and derivatives. Specifically, this applies to Bitcoin and Ethereum-based ETFs launched in the US, whose market capitalization has reached $187.3 billion.
Bitcoin and Ethereum ETF Market Capitalization Growth
We are seeing capital inflows picking up. Investments in BTC ETFs have exceeded the amount of funds transferred to the Nasdaq exchange since the derivatives were issued. This is unheard of, Cosmo concluded.