Digging deeper, a 2020 Statista survey found only 4% of Japanese residents used or owned cryptocurrencies, whereas China, India and Vietnam reported 7%, 9% and 21%, respectively.
According to Finder's 2022 Cryptocurrency Adoption Index, only about 7.8 million citizens currently own cryptocurrency, making up only 7% of the Japanese population.
In terms of adoption, Japan has one of the highest rates of cryptocurrency ownership and usage in the world.
Since then, Japan has become one of the most Bitcoin-friendly countries in the world. In April 2017, Japan recognized Bitcoin as a legal payment method, providing a regulatory framework for cryptocurrency exchanges to operate.
Japan taxes crypto as income and has some of the most aggressive tax rates on cryptocurrencies globally, up to 55%. In some circumstances, earnings under 200k JPY are tax-free. Organizations are lobbying to have Japan treat crypto as capital gains, not regular income.
bitFlyer
bitFlyer is the largest and most secure Japan-based cryptocurrency exchange and has the number 1 Bitcoin trading volume in Japan.
Guessing the right number, however, is difficult. As per the data available from various sources, there are a minimum of 32,500 millionaires in the crypto industry as of 2023, and the actual number is expected to be higher.
The largest holder of Bitcoin is believed to be Satoshi Nakamoto, the pseudonymous founder of Bitcoin. Nakamoto is estimated to own approximately 1,000,000 BTC, worth around $27.13 billion.
A younger population is more likely to own crypto assets than older generations. Additionally, vibrant competition in Japan among various crypto exchanges and continued investment from established crypto enterprises such as Rakuten have made the crypto assets market in the country look dynamic.
Yes, cryptocurrencies are legal in Japan. The Payment Services Act defines “crypto-assets” as payment methods that are not denominated in fiat currency and can be used to pay unspecified persons. There are no restrictions on owning and investing in cryptocurrencies.
In the fiscal year 2021, the trading value of crypto assets in Japan amounted to 65.7 trillion Japanese yen.
Bitcoin (BTC)
As the harbinger of the cryptocurrency era, Bitcoin is still the coin people generally reference when they talk about digital currency.
Cryptocurrency has become more and more common in recent years. In 2021, there are more than 300 million users of cryptocurrency around the globe. That means that about 3.9% of the population owns some form of cryptocurrency.
More than 106 million people own Bitcoin, and 400,000 users trade Bitcoin daily. The Top 10 cryptocurrencies represent over 88% of the total market value. Ethereum has almost 215 million unique addresses, making it the second-most-owned cryptocurrency.
Bitcoin, the world's largest cryptocurrency, has been stealthily rising in 2023. Bitcoin's value could jump to as much as $100,000 by the end of 2024, Standard Chartered said in a note published Monday.
Forbes on Twitter: "Bitcoin Price Rockets After Elon Musk's Tesla Reveals It Bought $1.5 Billion Worth Of Bitcoin https://t.co/1IUGc2YqRt" / Twitter.
Tesla announced Monday it has bought $1.5 billion worth of bitcoin. In a filing with the Securities and Exchange Commission, the company said it bought the bitcoin for “more flexibility to further diversify and maximize returns on our cash.”
There are no guarantees that you'll become a millionaire, but if you invest in the right places and hold those investments for the long term, it's still possible to see significant returns.
Wealth and longevity usually go hand-in-hand, but not always. Five crypto billionaires and near billionaires died in the final two months of 2022. Four of the deaths occurred within about a month, with the fifth death occurring about a month after the fourth death.
According to data from Bitinfocharts, as of March 2023, there are approximately 827,000 addresses that hold 1 bitcoin or more, representing around 4.5% of all addresses on the Bitcoin network.
MonaCoin is a cryptocurrency that is predominantly used in Japan. Like Bitcoin, MonaCoin uses the proof-of-work operating protocol.
Bottom Line. In conclusion, China's growing prominence in the crypto landscape is highlighted by the top 5 Chinese projects: NEO, VeChain, Conflux, Huobi, and Filecoin.
Billed as Japan's Bitcoin, Jasmy is a tokenized platform that champions the democratization of data by combining blockchain and IoT technology to provide an infrastructure that allows anyone to use data safely and securely.