Study Shows 14 Percent of Japan’s Young Male Workforce Invest In Cryptocurrencies

People from several countries have been obscenely investing in cryptocurrencies and Japan is no exception. This can be testified a survey of males in Japan working in the age bracket of 25-30 shows that 14 percent of these males own cryptocurrency, according to data published April 3 by Shin R25, an online magazine for young businessmen.

• 4,734 men nationwide participated in the Shin R25 “Questionnaire Survey on Virtual Currency” from January 2018 to March 2018. According to the survey, more than 1/4th of respondents who owned these cryptocurrencies told that it was their first investment experience.
• Of the young Japanese male employees that own crypto, 92 percent said that they entered the crypto markets “for investment,” 37.4 percent “for the time being because it is a trend,” and 19.9 percent due to “acquaintance and media recommended information.”
• In regards to the value of respondents holdings, 34.5 percent own less than 50,000 yen (about $469) of crypto, while only 10.2 percent owned 1 mln yen or more ($9,360 or more).
• The majority of respondents, 24.3 percent, bought their crypto assets between October and December 2017, while 15 percent bought them when “the price fell sharply” in “2018 or later.”
• With respect to future plans regarding investments in cryptocurrencies, 47.1 percent reported that they “would like to actively invest” in the future and 35.4 percent that they “do not intend to continue investing.

Despite the volley of cryptocurrency regulations implemented by the Japanese government which led to the bitcoin price fall eventually, the Japanese youth is not deterred by the clampdowns.

Also Read: Despite Bitcoin Price Dip, Bitcoin Adoption Boosted by Japan and South Korea

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