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(related news),...Japanese men behind Bitcoin surge - Deutsche
Dec. 15, 2017

That Bitcoin is perhaps a dangerous bubble is house policy at Deutsche Bank, and its analysts - searching for culprits - have found one in Mr. Watanabe.

The term Mrs. Watanabe has been used for years to describe the penchant for Japanese housewives to try and supplement the family income by trading currencies.

According to Deutsche, there's been a shift from forex to cryptos and from women to men. Japan is the gorilla in crypto trading, with one research outfit figuring about 40% of Bitcoin action is currently yen-denominated.

"More than a few Japanese investors positively value volatility," says Deutsche. "Japan’s investment style is typified by a combination of low-risk, low-return deposits and high-risk, high-return investments.”

Bitcoin this morning is up 5.5% to $17.854.