Japan, South Korea, and Vietnam are the biggest contributors in trading activity

According to Coinhills, a data firm which tracks digital currencies, South Korea at one point in the past week accounted for 1/4 of Bitcoin trading activity - and that exceeded trading activity in the US as a whole.

WSJ mentions that Asians in general are more comfortable with the concept of virtual currencies, and that it is the younger people who are getting excited about the "cool new thing".

But this hasn't stopped your average Joe from getting invested as well. Here's one of the interviews WSJ did with a South Korean car-detailing shop owner:

"Before bitcoin, I'd be at my shop from morning to evening. Now, I close shop when I have an appointment or leave early," said Mr. Lee. He has hired two people at his shop since he started investing in bitcoin and bought his wife an expensive Chanel handbag for their wedding anniversary.

Another investor who attended a Bitcoin event in Hong Kong - organised by the Bitcoin Association of Hong Kong, where over 200 people registered - had this to say:

"I've doubled my money. It's only going up. I'm getting rich so quick".

Earlier in the day, South Korea announced that they are considering to tax capital gains on Bitcoin. Surely, that'll put a halt to the euphoria, no? I wouldn't be one to bet on it though.