Over the past two days, Bitcoin price stabilized at $1,215 primarily due to the increasing adoption of Bitcoin in Japan.
On April 1, the Bitcoin legalization billdraftedby the Japanese government’s Financial System Council was taken into full effect, officially recognizing Bitcoin as a legal payment method. As a result,businesses began to integrate Bitcoin paymentsand offer the digital currency as an option to consumers.
Most notably, one of Japan’s largest electronics retailer chain Bic Camera announced its partnership with leading Bitcoin exchange bitFlyer to allow their customers nationwide to purchase electronics in Bitcoin.
Bic Camera’s acceptance of Bitcoin and generally positive media coverage on the digital currency spurred the demand for Bitcoin amongst traders and investors. This rising demand for Bitcoin pushed the Japanese exchange volume further, establishing Japan as the most dominant Bitcoin exchange market as of current.
Full story at http://bit.ly/2ovqw82
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