The CEO at Bitflyer – the Japanese largest virtual currency exchanging platform Yuzo Kano, described on an interview how the investors from his country that are conservative are taking steps to ‘go all-in’ on BTC and digital currencies.
Traders and investors from South Korea, Japan and China are majorly very conservative when it comes to their ‘best and investments’ while being not very open to change into any new asset. However, as years passed, Bitcoin and other virtual currencies have been struck by the mainstream ‘pusher’ which turned Japan into the largest BTC exchange market right now.
With that being said, the above mentioned market counts up to 61.23 percentage points of all bitcoin trading in a global scale.
Yuzo Kano, in an interview for The New York Time – mentions the legalization of Bitcoin as a cryptocurrency and the authorization of exchanges by the FSA – Financial Services Agency officials, which both triggered the conservative investors to move ‘all what they got’ on BTC and other digital assets:
“Japanese people tend to be very conservative with their investments, but once they get triggered they go all in.”
A similar trend has emerged in South Korea, as Bitcoin and cryptocurrencies have become the norm. Tony Lyu, the founder and chief executive of Korbit, the South Korean cryptocurrency exchange that was acquired by the $10 billion gaming company Nexon at a $140 million valuation, explained:
“Word just spreads really fast in Korea. Once people are invested, they want everyone else to join the party. There’s been this huge, almost a community movement around this.”
In consideration of the rapid growth rate of the Japanese and South Korean Bitcoin markets, prominent investors and analysts including Tuur Demeester have noted that the mid-term trend of the Bitcoin price would likely depend on the performance of two markets.
‘The train has started its engines’ as many very well known figures, high profile respected crypto-community members, institutional and retail traders have initiated their approach and engagement with BTC and crypto-trading while firms like Korbit and Bitflyer that are supported by multi-billion dollar investment companies are creating the right structure and platform for the best user approach.