The Bitcoin price and value continue to rise and this week has seen Bitcoin drive past the $5000 level, a new all time high. Interesting to note that Japan leads the current 24-hour ranking.
#1 Japanese Yen – 54.54%
#2 U.S. Dollar – 26.64%
#3 Chinese Yuan – 8.23%
#4 South Korean Won – 6.11%
#5 Euro – 3.01%
In 2016, reporting showed that most of the trading was coming from China, however, since the People’s Bank of China imposed strict regulations on the crypto exchanges in the country, the percentage of traded volume using the Yuan dropped significantly. In contrast to China, the Government of Japan passed a law legalizing Bitcoin as a payment system. Bitcoin adoption in the country has rapidly escalated as the merchant, consumer, institutions have embraced this bold move.
Taken from here. These figures are telling us that indeed it is now Japan which is leading the way for Bitcoin. It is not anymore China which is controlling the biggest chunk of the market (though they still control the mining part). I am glad that Japan embraced Bitcoin with all gusto and excitement. Amazingly, we can see here that the future of Bitcoin belongs to Asia.