Bic Camera Begins Accepting Bitcoin in Tokyo Stores
Major Japanese electronics retailer Bic Camera begins accepting Bitcoin payments at two Tokyo locations, creating massive media attention.
On April 7, 2017, Bic Camera, one of Japan's largest electronics retailers, officially began accepting Bitcoin payments at two stores in Tokyo's Yurakucho and Ikebukuro districts. The launch was accompanied by enormous media coverage, with 28 media crews present to document the first Bitcoin transactions at the stores.
Customers could pay up to 100,000 yen (approximately $900) in Bitcoin for any products, and the transactions were processed through a partnership with Japanese exchange bitFlyer. The Bitcoin payments earned the same reward points as cash purchases, providing no disadvantage to customers choosing cryptocurrency.
Bic Camera's Bitcoin acceptance was transformative for cryptocurrency's public perception in Japan. As a mainstream, trusted retailer with over 40 locations nationwide, Bic Camera's adoption gave Bitcoin legitimacy far beyond what could be achieved by cryptocurrency-focused businesses. The timing, coming just one week after Japan's legal recognition of Bitcoin, created a perfect storm of regulatory clarity and practical usability.
The media coverage was overwhelmingly positive, with news broadcasts showing regular consumers successfully completing Bitcoin purchases for cameras, computers, and appliances. The unexpected popularity of Bitcoin payments at the initial locations would lead Bic Camera to expand Bitcoin acceptance to all stores nationwide by July.This adoption by a major retailer demonstrated that Bitcoin could function as actual currency for everyday purchases, not just as a speculative investment or store of value, directly addressing critics who claimed Bitcoin had no practical use cases.