🔰Bitcoin's Impact On Japanese Economy🔰
In one of the recent analysis done on the impact of Bitcoin on the GDP of Japan, the analysts from Nomura have suggested that the Bitcoin's price rise will contribute 0.3% to Japan's GDP (Gross Domestic Product) growth. Even though this percentage looks small but finally it feels good to see cryptos are having a real impact on the economy.
As per the statistics, around 1 million people from Japan hold about 3.7 million bitcoins and this number is likely to increase as more and more people are getting aware and interested to invest in the so-called 'Digital Gold'. The calculation is simple, the higher the price of Bitcoin goes automatically the people who have Bitcoins will witness a steady increase in their purchasing power. As a result, people will invariably spend more and it will lead to a direct impact on the GDP of the country.
Looking at the chart above it is pretty evident that Yen accounts for the highest percentage of Bitcoin trading volume and an increase in the price of Bitcoin will have a direct impact on the overall asset valuations of the Japanese investors.
“Generally speaking, rises in asset values often result in a rise in consumer spending too, known as the wealth effect. In this report, we estimate the wealth effect from unrealized gains on Bitcoin trading by Japanese investors since the start of FY17 and estimate a potential boost to consumer spending of ¥23.2-96.0bn
Moreover, the fact that the rise in Bitcoin prices was concentrated in 2017 Q4 could result in the wealth effect materializing in 2018 Q1, and if that is the case, we estimate a potential boost to real GDP growth on an annualized q-q basis of up to about 0.3ppt (¥96.0bn / ¥130trn × 4).”
We have already witnessed an insane parabolic run of Bitcoin in the past few weeks and looking at the rate at which Bitcoin is gaining popularity across the globe I think Japanese people will have an upper hand since they are already heavily invested in cryptocurrencies. It's very important for developing economies to scale up their adoption rate for Bitcoin if they want to match to the rapid pace of more developed economies. Having said that if the overall cryptocurrency market cap falls it can also backfire, so it's going to be tricky but at the same time rewarding if everything falls in place for the crypto space.
References and Further Reads: Link
Hello @vj1309,
It gives us pleasure to inform you that your have been chosen to cast vote with 10% VP from "royalmacro" trail.
Learn more about the Royalmacro Trail here!
If you wish to support this initiative, join the Royalmacro voting trail on Streemian. Every vote counts!
We hope to see you continuing to post some great stuff on Steemit!
Good luck!
@royalmacro
Unfortunately, 24 Hours Older Posts Are Not Eligible To Get Votes From All Other Members Of The Curation Trail Except Me
Nice fantastic post Happy 2018 Contribution comment#
Congratulations! This post has been upvoted from the communal account, @minnowsupport, by vj1309 from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, someguy123, neoxian, followbtcnews/crimsonclad, and netuoso. The goal is to help Steemit grow by supporting Minnows and creating a social network. Please find us in the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.
If you would like to delegate to the Minnow Support Project you can do so by clicking on the following links: 50SP, 100SP, 250SP, 500SP, 1000SP, 5000SP. Be sure to leave at least 50SP undelegated on your account.
#bitcoin
people talk about bitcoin but i have not understood
Hai,i need to talk with you pls give give whatsup or telegram no