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An important step to confer respectability on trading in bitcoin and other cryptocurrencies was taken in mid December when analysts from Deutsche Bank highlighted the role played in the emerging market by male leveraged foreign exchange investors from Japan.
Their report gave a catchy name to a new investor type, ‘Mr Watanabe’, to distinguish the men who supposedly do this trading from the female Japanese equity retail investors stereotypically dubbed ‘Mrs Watanabe’.
This helped to rehabilitate the image of bitcoin investors, who had been widely viewed as divided between criminals seeking to launder illicit earnings and libertarian IT specialists with a limited understanding of how markets work.
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