It is a common perception that the Japanese people consider risk aversion beforehand going for any new investment. They study the complexities prevailing in the market especially if they are trading in foreign exchanges. Mai Fujimoto who is popular as miss Bitcoin over the social media platforms of Japan has come up with her declaration that she is going to invest all her savings in this new age digital cryptocurrency. Bitcoin has proved to be a great success in the commodity and stocks markets of Japan.
She articulated her strong confidence in this modern digital monetary phenomenon in an interview to AFP as: I am going to convert all of my available income into the cryptocurrency. I have constantly invested heavily in Bitcoin for a period of more than a year. The returns are quite high if compared to putting income into a bank account in Japan.
Miss Bitcoin is not the singular person who has that much enthusiasm regarding this cryptocurrency phenomenon. Japan has long legalized the Bitcoin as a legitimate means of exchanging goods and services. In an economy of the size of the nation of Japan which is the third biggest economy of the world; almost 33% of all the globally happening transactions in Bitcoin happened in Japanese national currency Yen. The data is as per the popular Bitcoin exchange portal of Japan JP Bitcoin.
The legislation of Bitcoin getting recognized as a legal means of goods and services exchanging has caused a huge furor in the market of Japan and this has caused the monetary experts all around the world to give their speculation regarding the ongoing huge frenzy in Bitcoin. They attribute the success of Bitcoin to the enthusiasm of individual exchanging investors in foreign funds of Japan.
This may cause many people to think of why Japan's populace is going gaga over this Bitcoin phenomenon. The primary reason is that Japan's economic growth is stalled and the interest rates of saving banks have subsequently became negative. Investors in Japan are in constant search of an adobe where they can get a heavy boost over their investments which ultimately shall drive the wheel of growth in the economy of Japan. The regional rivals such as South Korea and China have come down heavily over the cryptocurrency phenomenon while on the other hand Japan has embraced this phenomenon with open hearts and arms.
In the April of passing year the parliament of Japan has passed a monetary legislation which enabled the financial regulators of the nation to recognize Bitcoin as an alternative legal tender within the borders of Japan. However the bill also pleaded for incremented transparency as well as stability of the finances of the nation.
Some of the most recognized Japanese brands and business giants therefore have started accepting Bitcoin as a legal method of payments for the services and goods rendered. Also in addition of this the news of some of the companies situated in Japan offering the employees to be paid their salaries in Bitcoin hit the headlines of the major news portals of the world. Therefore it was the sense of security which the investors in Japan started feeling regarding the Bitcoin phenomenon which added momentum to take up more and more people into the domain of cryptocurrency. The confidence is derived from the constant backing by the government as well as by the big giants of Japanese markets. However there exists another reason which is the Japanese investors are constantly looking for greener pastures to get better returns over their investments as Japan is suffering from deflation which is brought in by the central bank of that nation.