- Midori Kanemitsu, a market analyst at bitFlyer, indicated this reflects a larger trend: against the backdrop of COVID-19 and global monetary easing, bitcoin is shifting from a speculative investment for individuals to an institutional hedge against inflation.
- Kanemitsu also expects institutional investors to enter the Japanese bitcoin market.
- A bitFlyer survey conducted earlier this year revealed that 30% of new visitors to the exchange are in their 20s, and that number has doubled since a previous survey conducted in 2018.
- The rewards system, launched in August 2019, allows users who have a bitFlyer account to exchange T-points for BTC.
- Users can also earn one T-point for every 500 yen (~$4.80) spent in BTC at participating member stores.
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