Analysts from Japanese finance giant Nomura have found Bitcoin could be contributing as much as 0.3% extra GDP to Japan.In a client note translated by Business Insider, Yoshiyuki Suimon and Kazuki Miyamoto praised the positive effects on consumer spending resulting from large numbers of Japanese holding Bitcoin.
The optimism capitalizes on Japan’s Bitcoin breakout this year, which saw the country take pole position in Bitcoin-to-fiat trading, as well as adopt nurturing regulatory frameworks to further Bitcoin’s implementation into its economy.Following the firming up of its legal stance, Bitcoin accelerated in price to such an extent that Nomura suggests holdings could have a “measurable effect” on Japan’s GDP.
According to Nomura analysts, GDP of Japan could be hiked up to 0.3% due to bitcoin as there are many people in Japan who hold bitcoin which could have some positive effect on Japan’s GDP.
Read more news here: https://cointelegraph.com/news/bitcoin-adds-03-to-japans-gdp-claim-nomura-analysts
seems small at the moment haha!!
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