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 .
Japan's one million bitcoin holders could pour up to JPY96bn ($851m) into the country's economy, adding 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 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.