‘The best time to invest in bitcoin was yesterday,’ says strategist as the cryptocurrency soars – CNBC

‘The best time to invest in bitcoin was yesterday,’ says strategist as the cryptocurrency soars – CNBC

The reflection of bitcoins in a computer hard drive.

Thomas Trutschel | Photothek via Getty Images

As bitcoin continues on its upward trek in 2021, one analyst says the regulatory concerns surrounding the cryptocurrency won’t likely derail its momentum.

“The regulatory issues have been around for a long time, we’ve been dispelling them for a long time. At this point, our belief is: Bitcoin is not a question of if, but when,” Meltem Demirors, chief strategy officer at digital asset investment firm CoinShares, said Monday.

“We certainly believe, you know, the best time to invest in bitcoin was yesterday — the second best time to allocate is today,” she told CNBC’s “Squawk Box Asia.”

Her comments came after bitcoin recently toppled another milestone, pushing past $1 trillion in market value last week, according to Coindesk.

Bitcoin has been on a tear since the start of 2021, and has risen more than 90% so far this year, according to data from Coin Metrics. Those strong gains have been attributed in part to increased adoption of bitcoin by major investors and companies, including Elon Musk’s Tesla and the Bank of New York Mellon.

If it’s a currency, it’s a … horrifically bad currency … bitcoin seems to be primarily a speculative game.

Aswath Damodaran

professor, Stern School of Business at New York University