The Japan Virtual and Crypto assets Exchange Association (JVCEA), which consist of the 29 domestic cryptocurrency exchanges and derivatives traders have revealed that the nation’s virtual currency deposits has hit a new record about $13 billion. The US $1.9 trillion Covid-19 stimulus package spiked Bitcoin’s bull run, which motivated Japanese investment into the nation’s crypto market. This is a turning point for Japan's adoption of cryptocurrency and would increase the asset's popularity.