Zero Accel, a Tokyo-based business, surveyed 330 bitcoin owners across 47 Japanese provinces in January. According to a press release from Zero Accel, 82.7% of survey participants said that they “plan to continue to keep” their tokens forthe future.
More than seven out of ten respondents named Bitcoin (BTC) as their favorite cryptocurrency, with Ethereum (ETH) coming in a close second. The firm reports that 228 men and 102 women, whose ages ranged from 20 to 60, were questioned.
Crypto Winter seems Like it did not Dishearten The Japanese that much
According to the research company, investors prioritized “creditworthiness and future prospects” above “current market capitalization” when deciding which cryptocurrencies to buy.
About 75% of respondents claimed to have been involved in the cryptocurrency sector for no more than three years. Most people claimed to have “one or two” years of market experience.
Over half of them disclosed that their portfolios had grown in value over the previous year, despite the fact that many of them had grumbled about losses during the crypto winter.
Their Government’s Tax Policy is Straining the Cryptocurrency Holders
The researchers notedthat, in addition to their connection with the guiding principles and philosophy of crypto projects, the quest for profit is “one of the reasons” why Japanese cryptocurrency holders appear to be interested in these prospects.
According to Zero Accel, some cryptocurrency projects have “passionate supporters” who prefer not to sell their holdings in the market “for petty reasons like price reductions.”
Nonetheless, some Japanese investors claim that high tax rates have disheartened them. The cryptoc industry petitioned the government to change the country’s tax legislation last year. Many cryptocurrency owners believe that Japan’s taxation on cryptocurrencies, which uses a sliding scale akin to income taxes, is unjust.
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