Bitflyer’s research paper publication reveals the increasing interest of US investors in digital currencies/assets. Suggests that crypto has become a household product of investment amongst Americans. Crypto has become American’s 4th darling product for investment. However, Japan is lagging behind the US and China in terms of crypto investment.
One of the world’s largest and biggest crypto exchange of Japan, Bitflyer, has published a research paper that covers global crypto investment. The aim of the research paper was to examine the growing crypto investment trend within the US and then comparing it with that of Japan.
In the research paper, Bitflyer revealed that there is a prominent difference between the US and Japan as regards to adoption and acceptance of cryptocurrencies. The Japanese leading crypto exchange surveyed the crypto community from the US and Japan to arrive at its findings.
According to Bitflyer’s survey at 76% of people in the US have positive thinking regarding cryptocurrency. Interestingly within US, almost 90% of Americans are familiar with cryptocurrencies and they fully understand the purpose and concept of cryptocurrencies. However, in Japan, the survey revealed that at least 78% of Japanese do not consider digital currencies in a positive way. Instead, they have negative opinions regarding crypto and its use.
Bitflyer then tabulated findings in a comparative chart to demonstrate how US and Japan’s crypto markets Japan can be set apart. The survey revealed that the major difference between the two markets is relating to the acceptance of digital currencies as an investment vehicle. While the majority of Americans think that crypto is a great investment vehicle but the majority of Japanese believe to the contrary.
It was mentioned in Bitflyer’s survey that it was a resurgence of Bitcoin in 2020 when the pandemic happened. It was the time when Americans diverted their funds into Bitcoin and came to realize that it is a great source of storing value. As usual, the worldwide investors then followed the US trending of crypto investment.
However, the Japanese did not react positively to the trend, and instead, their approach towards crypto adoption was lukewarm and half-hearted.
While crypto became a prominent investment vehicle, the Japanese lagged behind Americans where 82% of people bestowed their trust in crypto. It was reported some 6 months back that 52% of Americans preferred investing in crypto. However today the number has increased up to 82% and literally, crypto became a darling investment product for Americans. According to a recent study, crypto has emerged as the 4th most investment-centric asset in the US leaving behind Gold as well.
The most demanded crypto asset in the US is none other than Bitcoin. The top 3 investment vehicles in the US are the real estate sector, 401K, and shares/stocks while gold is at number 5.
Interestingly in the US during the pandemic 68% of people opted to invest while in Japan the number restricted to 18% only. It seems that people in Japan are turning their backs against the New Normal.