Rate this post

Japan is the fourth largest economy in the world after the United States, China and the European Union. The Japanese Yen is the most traded currency against Bitcoin in the world, followed by the Dollar and the Euro. Due to the important price increase that this virtual currency experienced during 2017, Japan could see its economy boosted.

Can Bitcoin Help Japan?

According to Nomura’s bank, Bitcoin increase in 2017 could increase consumption in the Asian country. These are good news for an economy that has been stagnated since 25 years and has suffered from deflation. Investors that have been benefiting form Bitcoin’s raise, could take some profits and impulse the country’s consumption.

“When some assets increase their value, it also means a higher spending form the consumer. This is known as wealth effect,” wrote the team guided by Yoshuyuki Suimon. “We measured the wealth effect of unrealized gains in Bitcoin trading by Japanese investors since the beginning of the fiscal year 2017, and we estimate a potential boost in consumer spending of between 23.2 billion and 96 billion yen.”

Even when Bitcoin has registered loses in the last 15 days, there are more investors that have made profits with it. Following Nomura’s analysis, the effect could be seen during the first part of 2018. There is a potential increase in real GDP on an annualized quarterly basis of up to approximately 0.3 percentage points.

Japan has been suffering from stagnation during the last 25 years and it struggling to finish the ‘lost 20 years’. Even when Japan remains as one of the most developed countries in the world, its GDP per capita has decreased compared to previous years. Furthermore, its debt as a percentage of GDP is the highest in the world and, traditionally, consumers tend to save more than to consume.

Japan

Bitcoin Increase in 2017

During 2017, Bitcoin has experienced an incredible growth. Its price moved from $950 up to $20,000 dollars two weeks ago. Other cryptocurrencies have also been increasing as much or more than Bitcoin. Besides that, Initial Coin Offerings have been spreading all over the world promoting their tokens.

Bitcoin could help different countries to push their economies after this incredible run. The Chicago Mercantile Exchange and the Chicago Board Options Exchange are offering Bitcoin futures to big investors. That could bring more money into the cryptocurrency market and increase currency prices in the middle and long term.

2018 could be the year in which Bitcoin and other virtual currencies would be used for many more investors, companies and enterprises. If Bitcoin’s price keeps growing, the cryptocurrency market in general will do it, following its trend. If Bitcoin would be a country, it would be the 46th country by Gross Domestic Product (GDP) in the world.

Image Courtesy of Pixabay

Categories:

Bitcoin News
xxxnxx
aflamsex
xnxxx
iporn xxx
arab xxnx

Share This