Will Japan’s Declaration of Bitcoin as Legal Tender Accelerate Cryptocurrency Mainstream Adoption?

It’s being reported by Sputnik News and other sources that Japan has declared Bitcoin to be legal tender. Unfortunately, I have not been able to quickly confirm this through Japanese sources. The use of BTC as legal tender in one of the world’s leading economies is a big plus for Bitcoin, and likely to lead to a much more rapid pace of adoption. Volume is strong on increasing price.


Be aware that volume on exchanges doesn’t necessarily equate to gross transactions. There are OTC transactions and P2P transfers via the blockchain (see http://Veritaseum.com). There is one thing that is apparent, though. JPY is the new Bitcoin darling, replacing CNY in terms of BTC trade volume on exchanges.

Full Story: Zero Hedge.

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