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Finance

'Mr. Watanabe' hit hard by bitcoin crash, but not losing heart

Japanese retail investors play growing role in the virtual currency market

  © Reuters

TOKYO -- Bitcoin plunged last week, giving up 40% of its value from a record high of $19,783 per unit on Dec. 17. The selloff was exacerbated by retail investors in Japan, many of them leveraged, as they rushed to dump their holdings in a panic.

Curiously, though, it was the same bruised bunch who helped buoy the cyptocurrency after the selling had run its course. Given their growing influence, such investors are becoming known as "Mr. Watanabe," a variation of their relatives in the foreign-exchange market known as "Mrs. Watanabe."

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