Topic: [2017-01-02]Japan’s GDP Grows Due to Bitcoin Wealth Effect (Read 110 times)
It's quite an achievement for such a not-serving-any-purpuse-tool to contribute to growth in the GDP of a major country. It's not a lot, but it's a first step the way I see it. Japan is clearly a proper benchmark country in the way that they function as main example of how everything should be done, and how a friendly Bitcoin approach can even contribute to economical growth. Imagine how much impact Bitcoin could have had in much smaller economies as the one from Venezuala if adopted in the same way Japan adopted Bitcoin.
Well, I was expecting this to happen. The Japanese government's decision as to their entry in the cryptocurrency world was very strategic in the sense that they came in when Bitcoin's market was about to soar its highest in 2017. I bet they earned so much given the value of Bitcoin as of writing in comparison to its value when they accepted such in their market. Bitcoin's free flow in the Japanese market enabled investors and tourists to accept such and with it, their GDP grew substantially. One contributory factor I can think of the most is the increase of the spending power of the people in Japan.
Japan 's growth in GDP was attributed to bitcoin wealth effect according the report their gdp boost of 0.3% heading into the first three months of 2018 it was also stated that Japanese consumers and retail businesses will also benefit from the country’s crypto craze.
https://news.bitcoin.com/japans-gdp-grows-due-to-bitcoin-wealth-effect/
https://news.bitcoin.com/japans-gdp-grows-due-to-bitcoin-wealth-effect/
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