The cryptocurrency has inspired many critics and many admirers
Mike Novogratz is reinventing himself as the king of bitcoin.
The J-Coin will be pegged to the yen and users will be able to spend it through a mobile app.
An unknown cryptocurrency trader turned $55 million of paper wealth into $283 million in just over a month.
The bitcoin rally is partly being driven by positive noises from policymakers and regulators.
A new cryptocurrency launched late last week, claiming to allow users to make online purchases anonymously and sparking controversy and a negative reaction from the authorities.
South Korea's justice minister said a bill is being prepared to ban all cryptocurrency trading, Reuters reported Thursday, citing Yonhap.
Bitcoin fell on Thursday, marking the latest gyration following a major sell-off at the end of last week.
Dave Chapman from Hong Kong-based Octagon Strategy also said that bitcoin could become a huge disruptor in the finance industry.