Japan and its love to Bitcoin

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2018-01-08
Photo: Japan and Bitcoin
Japan and its love to Bitcoin

It is not a secret that the Japanese are in love with the Bitcoin. They have legalised it and actively use it as a real currency in their everyday payments. Japan is a great example of a successful use of the digital currency in a real life – politics, finance, social life, culture.

“It is not a speculative investment even though it is being used as such by other people. As Bitcoin network grows the value of Bitcoin grows. As people move into Bitcoin for payments and receipts they stop using US Dollars, Euros and Chinese Yuan which in the long-term devalues these currencies.” [Source: RT YouTube]. – commented John McAfee.

The Japanese tax reform bill, which officially eliminated the consumption tax on Bitcoin sales, came into force on July 1. It is expected that the trading activity in bitcoin will grow in Japan after the bill is activated in 2018. However, positive signs for Bitcoin’s trade in Japan could create a positive precedent across Asia, which controls more than 65 percent of the global market share of bitcoins and affects the price of bitcoins.

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