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Japanese retail investors constitute around 30-50% of Bitcoin market

Japan's global share of the bitcoin market jumped after a clampdown this year by Beijing saw bitcoin trading in yuan almost entirely disappear.

Reuters  |  Tokyo 

Japan's army of retail investors, no strangers to high risk bets in the past, have emerged as a major force in bitcoin's spectacular rally, now accounting for an estimated 30-50 per cent of trading in the cryptocurrency as it spikes to record highs. Once sceptics, Japanese retail investors have been attracted by the digital currency's volatility and inefficiencies in pricing that create opportunities to make money on arbitrage between exchanges. "When I first heard about the bitcoin a few years ago, I thought it was a fraud," said Yoshinori Kobayashi, 39, a ...

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First Published: Wed, December 13 2017. 11:35 IST
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