Because 90% have never drunk alcohol but smoke, so smokers generally have no money.

An interesting phenomenon is that more than 90% of stock investors in the A-shares market have not bought Moutai, and similarly, over 90% of people in the cryptocurrency space have not bought Bitcoin. This data is quite interesting, isn’t it?
We all know that there is Moutai in the A-shares market and Bitcoin in the crypto world. Among China's 200 million stock investors, only 150,000 hold Kweichow Moutai.
That means only 0.07% of people hold Kweichow Moutai, while 99.93% of stock investors have not bought Kweichow Moutai, but instead bought imitation stocks. Looking at Bitcoin, we can find data on the Bitcoin explorer, where there are over 38 million addresses holding Bitcoin. However, there are only over 800,000 addresses holding more than 1 Bitcoin.
This ratio accounts for about 2% of all holding addresses, which means that over 90% of people in the cryptocurrency space have not been able to buy Bitcoin, but have chosen to hold altcoins.
Moutai and Bitcoin are similar in that for over a decade, they have never let down any of their holders. So why do most people still not buy them?
I think there are a few reasons: the first is feeling it’s too late, the second is feeling it’s too expensive, the third is thinking that Bitcoin has no room for price increase in the future, the fourth is believing that making money is too easy, and the fifth is psychological bias.
Everyone in the crypto space already knows about this; Bitcoin is recognized as a valuable currency, which is a consensus shared by everyone in the crypto community.
When everyone believes something is good, others must have bought it too, so if I buy it, I surely won’t make money. Regarding feeling it’s too late, early and late are actually relative concepts; there’s no absolute early or late. As long as the investment target is valuable and can grow long-term, it’s somewhat about early or late. Because in our crypto space, such investment targets are very scarce.
Regarding feeling it’s too expensive, facts prove that if we look at it from a probability perspective, as long as you don’t buy Bitcoin and instead invest in other coins,
compared to Bitcoin, you already have a 90% chance of losing money. You know the saying, 'You get what you pay for,' good things aren’t cheap. This is something we all understand.
Good investment targets are very scarce, and this scarcity is not only present in the crypto space; if you look at the entire global investment market, assets worth holding long-term are also very scarce.
But once you discover this, don’t easily get off the train. Of course, in the meantime, you can sell some coins and improve your life appropriately.