Why can't I see the new video option for Instagram?

I have an iPhone 5 and earlier today when I opened up Instagram, at the top, there was something announcing a new feature for Instagram, and so I selected it and it took me to a page where it introduced me to the new video option on Instagram. I disregarded it and exited out and continued checking my Instagram, and when I try to press upload, there ISN'T a video option for me! What the hell! Wasn't I supposed to have it! And one more thing; when I scroll down my news feed on instagram and see my friends posts of "videos", I only see it as a picture. What is going on?

You have to update your Instagram app. Same thing happened to me.

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