Bitcoin Price Breaks $1,215 Due to Rapid Mainstream Adoption in Japan
Over the past two days, Bitcoin price stabilized at $1,215 primarily due to the increasing adoption of Bitcoin in Japan. On April 1, the Bitcoin legalization billdraftedby the Japanese government’s Financial System Council was taken into full effect, officially recognizing Bitcoin as a legal payment method. As a result,businesses began to integrate Bitcoin paymentsand offer the digital currency as an option to consumers. Most notably, one of Japan’s largest electronics retailer chain Bic Camera announced its partnership with leading Bitcoin exchange bitFlyer to allow their customers....
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The crypto world is bustling with momentum. Japan just revamped its Payment Services Act to be ‘crypto-friendly,’ opening the door for more institutional and mainstream adoption across Asia. In Dubai, tokenized real estate pushed sales past $18B in May – proof that on‑chain ownership of physical assets is no longer science fiction. Meanwhile, Bitcoin is […]
Bitcoin company executives and analysts including Irene Katzela, CEO of Chain of Points, firmly believe retailer and merchant adoption is the key to bitcoin mainstream adoption. Since 2014, the bitcoin industry and market have seen a rapid emergence of bitcoin-accepting merchants. Companies like TigerDirect and Expedia have begun to offer bitcoin as one of their main payment methods. Currently, bitcoin is perceived more as a store of value and a safe haven asset rather than an actual digital currency. Some bitcoin investors like Roger Ver argue that the development community of bitcoin....
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Counterparty Foundation Community Director Koji Higashi has agreed that Japan’s future in Bitcoin is an “upward trend” and could challenge China in trading volume. Japan: World’s #2 Bitcoin Trader. His comments follow mainstream media alleging the number of Japanese outlets accepting Bitcoin had quadrupled to over 4,000 in 2016 alone. In a blog post Monday, Higashi said that in contrast to China’s falling trading volumes due to exchange inspections and uncertainty over legislation, Japan’s legal setup was fostering increased crypto adoption. “…It seems to me few people are aware of what’s....