The following article was written by Greg Wilson, an analyst for the Palm Beach Letter of the Palm Beach Group which is a financial publishing company with over 234,000 subscribers.
You should ask yourself why is this not public knowledge or being talked about by the Financial Specialists that you see on the television. Well, when almost everything in this country dealing with finances is controlled by Wall Street, which is controlled by the banks that are too big to fail, and since Bitcoins is neither controlled by the banks or the government; you can see why it’s not being talked about.
By Greg Wilson, analyst, Palm Beach Letter
On August 1, 2015, the Tokyo Metropolitan Police Department arrested Mark Karpelès, the CEO of a major financial exchange. The police accused Karpelès of embezzling $350 million.
Believe it or not, this arrest led to the biggest bitcoin breakthrough no one is talking about today.
You see, on April 1, a new payments law went into effect in Japan. And what’s significant about the law is that it recognizes bitcoin as a legal method of payment.
Let me repeat: Japan now recognizes bitcoin as a legal method of payment.
This is huge news. But it’s getting almost no play in the media.
And as always, it’s our mission to bring you the stories you won’t see on the front page… and more important, to show you how to profit from them.
Growing Pains
Mark Karpelès was the CEO of Mt. Gox, which was once a major bitcoin exchange.
He got into the business in 2011 and built it up to become the largest bitcoin exchange in the world. At its height in 2013, it was processing 70% of all bitcoin transactions.
And that’s when the troubles began.
You see, Mt. Gox had issues with regulators that affected its partnerships and its customers as well. Mt. Gox ended up suspending or freezing many customer accounts.
Mt. Gox halted withdrawals on several occasions. But it also repeatedly said that it would resume normal operations in short order.
That never happened. And on February 28, 2014, the company filed for bankruptcy and closed its website.
While many are familiar with the Mt. Gox story, what most people don’t realize is that Mt. Gox was based in Tokyo.
And ever since then, the Japanese have associated bitcoin with Mt. Gox.
That’s why it’s so surprising that Japan has become the first country to recognize bitcoin as a legal method of payment.
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Rewriting Bitcoin’s Future
Ironically, it was the Mt. Gox debacle of 2014 that led to the new Japanese payment law today.
The event triggered an intense debate between financial authorities and the cryptocurrency industry. And Japan’s Financial System Council got to work drafting new legislation. By December 2015, it was ready for review.
The National Diet (the lower and the upper houses of Japan’s legislature) approved the bill in late May 2016.
On April 1, 2017, the law went into effect.
This News Isn’t Just Big, It’s Donald Trump Huge
This is a big event for Japan. And an even bigger event for the world at large.
First, it’s going to cause a bitcoin explosion in Japan.
Right now, roughly 5,000 merchants accept bitcoin in Japan. Because of this new law, that number is about to explode.
You see, AirREGI, the point-of-sale application for the Japanese retail conglomerate Recruit Holdings, will soon add bitcoin payments. AirREGI is used by more than 260,000 retail locations.
What’s more is that AirREGI is compatible with Chinese e-commerce giant Alibaba’s Alipay. So the millions of Chinese tourists who go to Japan every year will be able to use bitcoin.
Bic Camera has added bitcoin payments as well. It’s a huge electronics retailer, like the Best Buy of Japan. And folks are already making purchases with bitcoin.
Japan’s largest Internet service provider, the GMO Internet Group, is getting in on the game, too. It’s already an investor in Japan’s largest bitcoin exchange, bitFlyer. And now it plans on developing a wallet service to bring bitcoin to all of Japan.
And let’s not forget that Japan will be hosting the 2020 Summer Olympics. It’s the type of event that could put bitcoin in the international spotlight.
In other words, Japan’s new law is huge. It legitimizes bitcoin in an international way.
Japan is a developed, technologically advanced country. It’s the third-largest economy in the world. And the Japanese yen is the second most liquid market globally.
Why is this important?
I believe this is the start of a trend that will see bitcoin legitimized around the world.
Japan is setting a precedent for the whole world to see. And I expect other countries to follow suit.
So what should you do to profit from this trend?
You absolutely need to get into bitcoin. Otherwise, you risk being left behind.
Think of it this way… If the financial world is the Empire State Building, bitcoin is just a pebble on the sidewalk. But that’s not going to last.
We recommend you use the Abra exchange to buy bitcoin.
Regards,
Greg Wilson
Additional Information About Why You Should Acquire Bitcoins
Greg highlights some very good information, but the biggest take away of his article is the fact that Japan officially recognizes Bitcoins as a legitimate form of payment. This is huge for the holders of Bitcoins especially with Bitcoin experts predicting Bitcoins to possibly be worth $4000 by the end of 2017, and possibly worth about $500,000 to $1,000,000 a Bitcoin by 2030.
Click here to see what Bitcoins are selling for!
What the article does not cover is the fact that there are only going to be 21 million Bitcoins produced and as of 2016, there have bee 15.6 Bitcoins produced. Every four years the amount of new bitcoins produced decreases until 2041 when there will be no more bitcoins produced.
I highly recommend that you acquire as many Bitcoins as possible.
Click on the following link to find discover a strategy that I have been using since March 2017, and others have been using since December 2016 to drastically increase the amount of Bitcoins we have in our possession.
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Click here to watch a Discovery Channel video about Bitcoins!
