The GDP of Japan is increasing due to the development of Bitcoin

Analysts Yoshiyuki Suimon and Kazuki Miyamoto claim that the Bitcoin will help Japan to increase its gross domestic product (GDP) of 0.3 % during the first three months of 2018. By the end of 2017, the crypto-currency has benefited from a market capitalization of 12,000 billion yen. The trends continue in the beginning of the year, which could lead to an increase in consumption japanese of 0.2 to 0.4 billion yen, they explain.

Here are detailed explanations of this growth :

The effect Bitcoin in Japan : an increase of 0.3 % of GDP

Yoshiyuki Suimon and Kazuki Miyamoto Nomura propose a slightly different approach on the relationship of Japan with the Bitcoin. Nomura is one of the largest independent investment banks in the world. She was known for having developed innovative techniques based on mathematical data, it is possible to use in the financial research.

Gerd Altmann, Source : Pixabay

The usual reports are similar to a recent study published by Deutsche Bank AG. In this document, the bank notes that they believe that japanese investors move from currency trading to effect up to a trading of crypto-currencies. Moreover, the same study proposed to Nikkei that the Japanese occupied the half of the trade world money, and it seemed natural, therefore, that a technology like Bitcoin has at least 40% participation japanese.

Increase of consumption in Japan

The spring of 2017, has seen the adoption of Bitcoin in the country. After the repressions of the chinese government, Japan has rapidly developed in this area. At the end of the year, the digital currency and the most popular in the world has reached a total of 12,000 billion yen in terms of market capitalization.

In the Face of this growth, consumers could increase their spending and turn to this payment solution. In fact, several companies now accepted this mode of payment.

Source : NewsBitcoin