Japanese economy could get a boost from bitcoin surge in 2018

Bitcoin has fallen about 25 percent since closing in on $20,000 on December 18, trading around $14,500 in New York on Friday afternoon

Bitcoin’s about to boost the world’s third-largest economy, according to analysts at Nomura.
 
The digital coin’s 1,500 per cent rally this year has left crypto-crazed Japanese investors likely sitting on hefty gains that Nomura thinks will spur consumer spending.
 
“Rises in asset values often result in a rise in consumer spending, too, known as the wealth effect,” the team, led by Yoshiyuki Suimon, wrote on Friday. “We estimate the wealth effect from unrealized gains on bitcoin trading by Japanese investors since the start of fiscal year 2017, and estimate a potential boost to consumer spending of 23.2-96.0 billion