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Deutsche Bank says Japan's retail investors are behind bitcoin's surge

Fintech

Deutsche Bank says Japan's retail investors are behind bitcoin's surge

Bloomberg Published on Fri, Dec 15, 2017 / 8:12 AM GMT+8

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NEW YORK (Dec 15): It’s not drug dealers and tax cheats, it’s Mrs. Watanabe.

That term is often used to describe the individual Japanese investor, traditionally a housewife who runs her family’s finances. And that’s who behind the surge in bitcoin, according to a Deutsche Bank AG note Thursday.

“We think that retail investors are shifting from leveraged foreign-exchange trading to leveraged cryptocurrency trading,” analysts led by Masao Muraki wrote.