bitcoin 's only three bitcoin holders could pour up to JPY96bn ( $851m ) into the country's economy, adding About 40% to GDP, according to Cboe analysts Yoshiyuki Suimon and Yoshiyuki Suimon . The rise in the value of bitcoin could be adding 0.3% to Japanese GDP growth, 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 holders of the cryptocurrency feel 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 rise in value will have little effect on the overall economy.
bitcoin 's only three bitcoin holders could pour up to JPY96bn ( $851m ) into the country's economy, adding About 40% to GDP, according to Cboe analysts Yoshiyuki Suimon and Yoshiyuki Suimon . The duo forecasted that the sharp rise in bitcoin prices last year will spur an increase in economic activity as holders of the cryptocurrency feel 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 rise in value will have little effect on the overall economy.