331 Crypto Investors in Japan Generate Profits of At least $ 1 Million

[waiki]

Reports from Japan show that 331 crypto investors earn at least $ 1 million as a result of their trade by the National Tax Agency (NTA). At least $ 331 million in profits is generated by this group.

The NTA report shows that a total of 21.98 million Japanese citizens state taxes outside their normal work, which amounts to more than 41.4 billion yen ($ 380.1 million). The taxes collected in 2017 exceeded the 2016 total of three percent, which is mainly due to strong economic growth.

Of those who announced their taxes, 549 of them had $ 1 million in non-operating or non-operating profits, typically generated from investments in property, assets and stock. Of these 549 people, 331 of them have invested in the digital currency market and have generated profits from trading of $ 1 million or more.

[coco23]

These numbers are for 2017? What about numbers of people with smaller profits? Are there numbers of crypto holders for japan available?

With the bull market in 2017 I'm not surprised many people cashed out large numbers though...

[Black Coffee]

we can not lie that the profit from crypto trading is so high, so it's a common thing that every crypto trader has fantastic income. last year also the crypto market experienced a drastic increase, market cap is very high and it is very reasonable if every trader get a high profit, not only Japanese but every trader around the world.

[adroitful_one]

This was last year with the boom in price. I gurantee you this year won't be anywhere near that amount. It's been pretty rough this year. Also, i'm assuming this is only for the people that actually reported their holdings on their taxes? There's probably a bunch more that never even reported it.

[slaman29]

Man, I wish I wouldn't read too much into this type of news. I mean, I know for every $1million people make there are thousands who also lost money. I know these guys probably had thousands of dollars to start off with, while some of us struggled to accumulate our first few hundred. So I know not to feel bad about all this news, but I know also that I can't help it.

Good for the Japanese of course, I am envious, but I wish everyone well in this world.

[yxo493]

Japan has a lot of cryptocurrencies. But they do not seem to like people in other countries. Is it because of trust? Is it still a matter of integrity?

[CryptoBry]

It is quite interesting and encouraging to know of those statistical number that transpired in Japan. I am not anymore wondering why Japan is such a hotbed for the cryptocurrency movement and I am hoping that the plan to legalize ICO will be happening soon so that we can have a legal and working platform which ICO projects can hinge on in order to weed out so many scammers in this arena and to safeguard the interests of the small investors like me. I always admire Japan for leading the way in many areas involving cryptocurrency.

[nsasuiteb]

This is really huge considering the tax revenue which only comes from those individuals, and that profit is possible even with little capital if you bought before 2017 and hold coins you would make $1 million.

[allahabadi]

If someone is making money, many others are losing in the process. More so when new money is not entering the market and the existing one is being recycled.

Anyways, my best wishes to those who are making truckloads of money.

[crypto_geeek]

Most people probably hid their income from trading crypto currency and in fact these figures should be much higher. The crypto currency market is developing. Next time, all non-believers in the crypto currency will be sent to this topic.

[krisnajsadrak]

everything is possible in cryptocurrencies,,
but, maybe it will be good if you give us a link to this news my friend

[passwordnow]

I am envious, but I wish everyone well in this world.

We will also earn at least $1,000,000 if bitcoin hits $1,000,000 so strive to have even 1 BTC.

[XbladedThanos]

2017 bull run was really a lucky target for most crypto possibly they just cash out

[Red-Apple]

this is not surprising at all. and it is in no way a new thing and also it has little to do with the 2017 bull run as other comments suggested.

there are always good traders who have understood this market well enough and also have enough experience to ride the market the right way instead of bag holding and waiting until their teeth fall off!
there is a lot of profit to be made every day in the pump and dump altcoin market. if you catch them all or even 1 every day you can easily make $1 million in a short time.

things like 2017 bull run only make it easier.

[cityhall]

Damn, that is how rich man getting richer.  I just hope the poor not getting poorer.

[BTCITA187]

everything is possible in cryptocurrencies,,
but, maybe it will be good if you give us a link to this news my friend

https://finance.yahoo.com/news/331-japanese-cryptocurrency-investors-made-040056752.html
Well I think that would be fit.
Anyway this is great news because with some high profit soon we can see companies that will build with these millions. Because crypto need money, more money to success.

[pey]

It does not make sense those people were probably rich before crypto, big funds like polychain capital and such investors that invested in crypto before all are now huge.

[BTCITA187]

It does not make sense those people were probably rich before crypto, big funds like polychain capital and such investors that invested in crypto before all are now huge.

That make sense. But anyway this is good sign for crypto industry, that reach people see potential here and these rich investors really don't look to the price right now so they think only about future. Japanese business very conservative in general so they invest money only for perspective and profitable technology.