KEYTAKEAWAYS
- Bitcoin is becoming a mainstream investment, with differing adoption rates between the US and Japan. Political events and news significantly influence cryptocurrency prices.
- Long-term holding and investing in promising small-cap tokens are recommended strategies. The potential for becoming a crypto millionaire with small investments is challenging but possible.
- Cryptocurrencies show promise in cross-border payments and blockchain gaming. Japan's crypto market is growing, with over 10 million trading accounts, approaching FX market scale.
CONTENT
WebX 2024 features dialogue between Atsushi Tamura and Yuzo Kano on Bitcoin’s future, cryptocurrency investment strategies, and practical applications in Japan’s evolving financial landscape.
At the international Web3 conference “WebX” organized by CoinPost Inc. and hosted by the WebX Executive Committee, a special dialogue was held between talent Atsushi Tamura and Yuzo Kano, CEO of bitFlyer Holdings Inc.
This dialogue, a special project of the economic video media “ReHacQ,” focused on the theme “The Era of 10 Million Yen Bitcoin: Financial Investment and Future Preparedness We Should Consider.” Tamura shared his investment experience while posing sharp questions to Kano from his unique perspective. Both discussed practical strategies for cryptocurrency investment, market trends, and the outlook for cryptocurrencies in Japan.
CURRENT STATE OF CRYPTOCURRENCY INVESTMENT
Tamura shared his Bitcoin investment experience. He acquired 2 BTC when the price was around 180,000 yen per BTC and later expanded his investments to other cryptocurrencies.
Kano explained that Bitcoin is increasingly recognized as a risk hedge and becoming a staple in portfolios. He pointed out that while both parties’ supporters in the U.S. are enthusiastic about Bitcoin, Japan still tends to be more conservative. He also mentioned political events and news as factors affecting cryptocurrency prices.
THE PATH TO BECOMING A CRYPTO MILLIONAIRE
Tamura asked, “Can one aim to become a crypto millionaire now with an investment of just tens of thousands of yen?” Kano responded that while it’s difficult with BTC, he emphasized the importance of investing in new technologies and promising small-cap coins, as well as long-term holding (HODL). He also mentioned the need to identify technological innovations that haven’t been noticed yet and coins that many people might focus on.
PROSPECTS FOR PRACTICAL USE OF CRYPTOCURRENCIES
Regarding the future of cryptocurrencies as a means of payment, Kano mentioned the role of stablecoins. He highlighted the advantages of cryptocurrencies as an open platform, including ease of international remittance and 24-hour availability.
He gave an example of “a world where you can eat sushi while live streaming and receive instant payments from viewers in Brazil,” demonstrating the possibility of immediate cross-border payments.
They also discussed the potential of blockchain games and mechanisms for solving social issues. Specific examples of practical applications were presented, such as the spread of cashable games and the use of cryptocurrencies for point systems within online salons.
A venue survey revealed that many participants had experience in cryptocurrency investment. It was also noted that the number of cryptocurrency trading account holders in Japan has exceeded 10 million, approaching the scale of the FX market.
Kano expressed his expectations for tax reform. He stated that if tax rates are reduced, it would lead to the nurturing of the Web3 industry and increased revenue, contributing to Japan’s international competitiveness. He showed enthusiasm for realizing this within this year. As the representative director of the Japan Blockchain Association (JBA), he is negotiating with regulatory authorities.
WebX is organized by CoinPost Inc., which operates Japan’s largest Web3 media “CoinPost,” and hosted by the WebX Executive Committee. This year, it will be held on August 28 and 29 at “The Prince Park Tower Tokyo.”
Related:
Minister of Economy, Trade and Industry Saito: “I expect innovative innovations to occur from WebX” (in Japanese)
WebX2024: Experts on Strategies to Combat Crypto Crime and Secure Digital Finance Future
▼SPEAKER PROFILE
Atsushi Tamura
Talent, Yoshimoto Kogyo Co., Ltd.
Born on December 4, 1973, in Yamaguchi Prefecture. Formed London Boots No.1 No.2 in 1993. While active as a duo, he also appears individually in variety shows as well as economic and information programs. He actively engages in digital activities, including X (formerly Twitter) with over 3 million followers, YouTube channel “Atsushi Tamura’s Ash ch,” and launching the online community “Atsushi Tamura’s Adult Elementary School.” He entered and completed the Graduate School of Media Design at Keio University from April 2019 to March 2021. He loves castles and currently serves as a tourism ambassador for 7 castles, aiming for nationwide conquest. He is expanding his activities beyond the realm of a talent.
Yuzo Kano
CEO, bitFlyer
After completing his master’s degree at the University of Tokyo’s Graduate School of Engineering, he worked at Goldman Sachs Securities Co., Ltd. before co-founding bitFlyer Inc. in 2014. Since founding bitFlyer, he has been working on proposing legal reforms related to cryptocurrencies in Japan and establishing self-regulatory rules. He has also served as CEO of bitFlyer USA, Inc. and Chairman of bitFlyer EUROPE S.A., contributing to the development of the cryptocurrency exchange industry from a global perspective.
In 2018, he established the Japan Virtual Currency Exchange Association (now Japan Crypto Asset Exchange Association: JVCEA) as a self-regulatory organization. He has also attended the Public-Private Data Utilization Promotion Basic Plan Implementation Committee hosted by the Cabinet Secretariat as an expert. Currently, he serves as CEO of bitFlyer Holdings Inc., Representative Director of bitFlyer Inc., Representative Director of bitFlyer Blockchain Inc., Director of bitFlyer USA, Inc., and Representative Director of the Japan Blockchain Association (JBA).
He is also a member of the ISO/TC307 Domestic Deliberation Committee, an advisor to the Metaverse Japan Association, and an opinion leader for the Ministry of Defense. He continues to actively work towards realizing bitFlyer’s mission of “Making the world simpler with blockchain” in various aspects of the web3 industry development.
Related:
Minister of Economy, Trade and Industry Saitō: ‘I expect innovative breakthroughs to emerge from WebX’ (in Japanese)
Japan PM Kishida Champions Web3 at WebX Conference: Government Backs Blockchain Innovation
(Content Original Source: CoinPost)
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