Nomura: bitcoin appreciation or the Japanese GDP growth rate increased by 0.3%
Sina stocks news Beijing 2 news, Nomura Securities recently in a report to clients that bitcoin appreciation may make Japan’s GDP growth rate increased by 0.3 percentage points.
Nomura Securities analyst YoshiyukiSuimon KazukiMiyamoto said in the report, Japan bitcoin holders “wealth effect” may stimulate consumer spending, and will have a measurable effect on GDP.
The report is interesting, most analysts and economists believe that bitcoin’s market value is too small, too out of touch with other financial institutions, so as not to affect the real economy in the world. As of December 31st, the global total market value of $5600 encryption currency, but the world’s largest online retailer in 500 only three to accept bitcoin payments.
In economics, the “wealth effect” refers to when asset prices are rising, economic activity can be measured growth, making consumers feel richer, and increase their spending. This phenomenon has appeared in 2008 on the eve of the subprime crisis, the real estate prices soaring makes homeowners feel they are richer than previously thought. With the rise of their housing prices, these consumers start spending their balance, and inject vigor into the economy as a whole.
Japan is currently the world’s largest bitcoin market, 40% of the global bitcoin transactions with yen, more than the share of dollars. Nomura estimates that about 1 million Japanese holds about 3 million 700 thousand bitcoins. The wealth effect of these bitcoin holders may lead to 96 billion yen ($851 million) of extra consumption. Although bitcoin recently fell, but Nomura still believes that investors benefit the proportion of investors suffered a loss to Beamon more.