One of the factors is the fear of losing money since cryptocurrency price are not stable and most still fear the ban by their countries since government has not officially declared it legal.
That's correct, Legalization is one of the main factors why some people or companies are scared to invest in crypto currencies. But if the majority of the countries legalized Bitcoin and the usage of crypto currencies with rules and regulations it will be a different story. 
Most people are not willing to invest into bitcoins for just one reason only and that is because they dont know a single thing about the whole issue with how buying something that is not tangible going to make them a lot of money.
Bitcoin is supposed to be a currency and not an asset but through the years people learned that this crypto currency what we called Bitcoin can be a means of investment and everything was history. I don't think that they don't know about Bitcoin because investors have a wide range of knowledge when it comes to financing and asset stuff, The only thing that most of them won't invest in crypto currencies is because of the fact that crypto currencies are very volatile and anything can happen in a very short period of time and this thing is pretty scary if you're investing a lot of money. 