Mega bullish: Japanese have 10 bank accounts per adult on average and their banks started going negative interest rate!

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Lately several central banks in Europe have implemented a negative interest rate policy aka NIRP on excess bank reserves in the financial system. Japan is the next country that will be affected with the NIRP.

For a country where there are 7 national banks operating and many, many other megabanks and postal banks, residents are estimated to have as much as 8-10 accounts per adult on average. This is mega ultra bullish. Not resident but adult, keep that in mind.

I used to live in Japan in my youth and people store insane amount of money across several different banks in order to get those sweet returns. And crypto is far from popular there. US and EU is years ahead in terms of adoption compared to Japan where its still almost unheard of to be holding crypto. People think Japan is super ahead of others when it comes to tech but its quite the opposite. Fax machines are still the king of sending the documentation and important data in banks.

According to the data from Bank Of Japan, there are approximately 920,000,000 reported bank accounts in Japan. Given that there are about 125 million people in Japan and about 13% are children this brings you to about 10 accounts per adult on average.

According to the latest Statista report the banks assets in Japan are worth above 18.5 trillion dollars. Coinbase knows that and thats exactly why they decided to go in Japan now. They see this opportunity of a lifetime.

With negative interest hitting the Japanese hard, we will very likely see a massive influx of people coming to crypto. And when that happens…market will go insane. Mark my words

submitted by /u/anakanin
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