Japan 's one million bitcoin holders could pour up to JPY96bn ( $ 851 m ) into the country 's economy , contributing 0.3 % to GDP , according to Nomura analysts Yoshiyuki Suimon and Kazuki Miyamoto . The duo forecasted that the sharp rise in bitcoin prices last year will spur an increase in economic activity as users of the cryptocurrency become richer and spend more . About 40 % of all bitcoin trades are in yen , suggesting the huge increase in the asset 's value will particularly affect Japan . The total market cap of all cryptocurrencies on December 31, 2017, was $560 billion, according to CoinMarketCap, but only three of the top 500 online retailers accept bitcoin as payment. To date , many economists and analysts have believed bitcoin 's increase in value will have little effect on the overall economy .
Japan 's one million bitcoin holders could pour up to JPY96bn ( $ 851 m ) into the country 's economy , contributing 0.3 % to GDP , according to Nomura analysts Yoshiyuki Suimon and Kazuki Miyamoto . The duo forecasted that the sharp rise in bitcoin prices last year will spur an increase in economic activity as users of the cryptocurrency become richer and spend more . About 40 % of all bitcoin trades are in yen , suggesting the huge increase in the asset 's value will particularly affect Japan . To date , many economists and analysts have believed bitcoin 's increase in value will have little effect on the overall economy .