Pantera’s Cosmo Jiang Says It’s Not Too Late to Invest in Crypto Despite Bitcoin’s Highs

Pantera Capital general partner Cosmo Jiang believes investors who think they’ve missed the crypto boom still have a major opportunity ahead, as the majority of people around the world have no exposure to digital assets.

Speaking on CNBC’s Fast Money on Monday, Jiang said that while Bitcoin recently hit a new all-time high above $126,000, adoption levels remain surprisingly low. 

“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,” he said. “That’s quite a lot. And so the idea that it’s too late in the game isn’t true if most people don’t own it.”

Most Investors Still on the Sidelines

Recent data supports Jiang’s optimism about future growth potential. According to the National Cryptocurrency Association’s 2025 State of Crypto Report, only 21% of American adults currently own some form of digital assets. Globally, the United Arab Emirates leads in adoption, but even there, just 25.3% of the population holds any crypto, according to a September report by ApeX Protocol.

Analysts say the rapid rise of Bitcoin’s price could actually be discouraging new entrants. Many believe that while Bitcoin has achieved broad legitimacy, the next wave of growth could come from altcoins like Ethereum and Solana, which are evolving into full-fledged technology ecosystems.

Time for Altcoins to Shine?

Recent U.S. legislative progress is also supporting that outlook. The GENIUS Act, signed by President Donald Trump in July, provides a regulatory framework for stablecoins, while the CLARITY Act, aimed at broader crypto market structure reform, is expected to reach Trump’s desk by the end of the year.

Despite some investors staying cautious, demand remains strong. It is important to note that ETFs continue to attract “overwhelming” inflows this year. Spot Bitcoin ETFs recording $3.24 billion in net inflows last week, nearly matching their record from November 2024.

At the time of writing, crypto market cap stands at $4.27 trillion, driven by massive adoption among institutions and corporate treasuries. Many bullish projections place the crypto market cap at 10 trillion over the next few years.