2021 was a year when Bitcoin‘s attention increased dramatically. There is not much movement in Japan, but looking at the world, major financial institutions and institutional investors on Wall Street have begun to take serious steps.
The state also has movements to hold Bitcoin, such as El Salvador. You can see it now. As the world becomes more serious about Bitcoin, Japan remains sluggish. We need to keep up with the trends of the world. If you are interested in bitcoin trading, visit the yuan pay team.
The current situation of Japan, which is far behind the world
In 2021, Wall Street investors and Silicon Valley representatives will enter the crypto asset market in the United States, earnestly seeking the fruits of crypto assets worth over $ 2 trillion. It started to move. On the other hand, Japan, which had the world’s largest Bitcoin exchange as a base by around 2014 and drove the bull market in 2017, was left out of the global crypto-asset trend in 2021.
For example, there are currently no projects originating in Japan in the top 10 market capitalization of crypto assets (there is a theory that the developer of Bitcoin is Japanese, but I don’t know the truth, so I’ll leave it). On the contrary, the Japanese crypto-asset exchange has not even started handling half of the top 10 crypto assets by market capitalization at the time of writing.
In 2021, despite the solid global crypto-asset market, Japan lacked excitement. According to the Japan Cryptocurrency Trading Association (JVCEA), the actual transaction volume in Japan from January to November 2021, when data can be acquired, is about 34 trillion yen. Compared to the year 2020, when the prices of Bitcoin and other items rose in the latter half of the year, it was about three times higher.
On the other hand, for example, the physical transaction volume of Kraken recorded about 64 trillion yen at the same time, which is a significant increase of about 5.6 times compared to the annual transaction volume in 2020. As a result, the transaction volume in Japan is lower than that of one Kraken company, and the growth rate is also different.
Indeed, Japan has an unfortunate history of frequent massive hacks such as the Mt. Gox and Coincheck incidents. In addition, with the image of just making money from the “billionaire” that appeared during the 2017 bubble, the current situation is that the image of crypto assets is terrible in the world. However, the reality that the world struck last year was that “I can no longer say that.”
US institutional investors and significant companies pay particular attention to Bitcoin, the largest market capitalization. Bitcoin’s share of the total market capitalization of the crypto-asset market, which is currently about 235 trillion yen, is declining, but it is close to 40%. Recently, due to growing concerns about inflation, Bitcoin, which has characteristics similar to gold, is expected to play an “inflation hedge” role. This article describes how US investors and large corporations changed their perspective on crypto assets during the silence of Japan in 2021.
Wall Street giants in motion
2021 was a year in which institutional investors and major companies, especially in the United States, accelerated their entry into the industry. The following summarises the significant developments of institutional investors and large corporations.
- Black Rock approves two funds with Bitcoin investment in mind
- Morgan Stanley allows wealthy customers access to Bitcoin funds
- BNY Melon owns Bitcoin on behalf of customers announced a service to transfer money
- State Street announces that it will provide the necessary infrastructure for a trading platform for digital assets
And asset Management Company Franklin Templeton is, Announced recruiting coin and Ethereum traders
- George Solos Family Office Turned out to have invested in Bitcoin
- JP Morgan launched a Bitcoin fund for wealthy customers
- Harvard University, Yale University, and Brown University purchased Bitcoin after 2020.
Wall Street tycoons who are interested in bitcoin investing:
Several Wall Street tycoons began to take a new interest in crypto assets in 2021. For example, Ray Dalio, the founder of hedge fund operator Bridgewater Associates, said Bitcoin was “a big invention” and considered launching a fund that aims to prevent fiat currency depreciation through Bitcoin investment.
I revealed that I was doing it. The co-founder of Oaktree Capital Management, Howard Marks, previously denied Bitcoin having no intrinsic value but has recently changed this mindset.