ONLY 21 MILLION BTC! Bobby Lee, CEO of BTCC in Shanghai, one of the world’s largest bitcoin exchanges, said the global macroeconomic environment, which has seen sustained low interest rates, was conducive to investments in alternative assets like gold, silver and bitcoin.
Investor sentiment has been boosted by recent regulatory developments in the region, with governments in both Japan and Korea introducing frameworks paving the way for bitcoin to be used on a par with national currencies.
Last month, the Japanese government recognized bitcoin as legal tender, in a key development that has spawned a number of new bitcoin exchanges in the country, making it more attractive to traditional retail investors.
“In the past, bitcoin was traded only by the people who have been dealing with crypto-currencies. This year, regular people are starting to join, making trading so volatile,” said one Japan analyst.
