Bitcoin being loved in Japan
Since Bitcoin is legalized in Japan and declared as an official mode of payment, Bitcoin is becoming unstoppable. Not only in Japan, but globally as well
The prices are rising continuously. Experts from around the world are attributing the price rise to Japan’s move of recognizing the digital currency as legal.
Another news came in from Japan recently. The Japanese startups are now betting on Blockchain technology to increase the market value of their stocks.
Startups such as Infoteria and Fisco, both work on blockchain technology have experienced a rise of 58 percent and 26 percent respectively.
Infoteria is a voting platform which uses Blockchain technology. Fisco is a financial data services provider which has also adopted Blockchain technology.
Additionally, Fisco has also opened up a Bitcoin exchange in 2016.
Murakami, a major trader, told to Bloomberg publications:
“From about a month ago when all these virtual currencies started spiking like crazy, we began seeing the so-called “stocks of the virtual currency bubble. Not everyone is sure they can trust bitcoin exchanges. And some don’t have accounts there. That’s why they’re using the stock market to speculate.”
The stocks of such Blokchain based startups are gaining more profits since Japan’s recent move of legalizing Bitcoins as an official mode of payment.
Traders are lining up to buy the cryptocurrency. Commentators are regularly suggesting the Japanese market is a major force behind the current price rise.
Bitcoin’s price on the time of publishing this article was $2805.10 and INR 2,00,131 in Indian market.
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