One of the main reasons for the boom in BTC is down to the popularity of Bitcoin in Japan. Japanese investors have been flocking in their droves to buy cryptocurrency. On top of this they are buying share in companies that are utilizing this technology at record rates.
The blockchain and Bitcoin have allowed to come up with new and exciting ways of improving their companies. Since it was announced that Bitcoin will be legal tender in Japan Remixpoint have announced that they will allow payments through this method. They can pay using BTC when their customers want to use their partner’s services for plane tickets.
Infoteria who share rocketed last week by 58% are testing ways the blockchain can help shareholders vote using the technology. Fisco which is an early stage BTC exchange has seen a 26% rise in its share price since the new BTC law was passed in Japan.
Since May the price of Bitcoin has doubled in value against the dollar and the high level of interest in Japan is what is the catalyst of this rally. It has taken away from smaller Japanese companies listed on the stock market. Most investors prefer to put their money into crypto instead.
If this trend continues it will drive smaller companies to start looking to invest in crypto. They will have to do so to be able to keep up with competition and attract investment.
For the full article on Bitcoin in Japan click the link below.
Small-cap stocks are being used as a proxy to trade bitcoin Some stock traders opt for safety of stock brokerages The speculative frenzy in bitcoin is spilling over into the Tokyo Stock Exchange. Remixpoint Co., Infoteria Corp. and Fisco Ltd., have all seen volatile swings in their share prices […]
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