Virtual Currency Communication｜Can Bitcoin establish its presence as digital gold [Oohira]

Mr. Oohira's Profile

His FX history began in 2009 and cryptocurrency history began in 2015. Leveraging his experience in cryptocurrency investments, he distributes cryptocurrency information on major email newsletter sites and investment sites. He participates in numerous individual investor networks and shares knowledge gained from many investors. He has been running a cryptocurrency investment information site that beginners can learn from since 2016.

Blog:The Future Potential of Cryptocurrencies — Investment Methods for Beginners to Profit

*This article is a reprint and rewrite from FX攻略.com November 2019 issue. Please note that the market information written in the main text may differ from the current market.

Bitcoin Makes Its Presence Felt in 2019

2019 was a year in which Bitcoin demonstrated a significant presence. From 2018, the United States and China imposed mutual tariffs—the “US-China trade friction.” As this surfaced in 2019, it caused major economic anxiety worldwide. China is one of the world's leading exporters, and the US-China trade friction affects countries around the world, not just the two nations.

From this issue, Bitcoin prices surged in April 2019 (see Chart ①). At the beginning of 2019, Bitcoin traded around the low 350,000 yen, but in April prices surged. Thereafter, it rose on an upward trajectory, and by the end of June it had soared to a high around 1.4 million yen.

The market capitalization—representing Bitcoin's trading value (see Figure ①)—reached a maximum of 25 trillion yen in July 2019, surpassing the market capitalization of Japan’s major company Toyota, which was 22.5 trillion yen as of August 2019.

Bitcoin was born in 2009, and after 10 years, it is now traded worldwide and has trading volumes comparable to major Japanese companies, which is no longer surprising. From this, Bitcoin has established its presence as the next-generation “digital gold.”