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Swan Bitcoin Executive: BTC may benefit from the depreciation of the Japanese yen

Swan Bitcoin Executive: BTC may benefit from the depreciation of the Japanese yen

Bitget2024/05/09 04:05

A senior executive at Swan Bitcoin stated that the depreciation of the yen could ultimately lead to a "disaster" for U.S. Treasury bonds, which in turn could benefit BTC as investors flock to other means of value storage. According to Google Finance data, as of this article's publication, 1 yen is equivalent to $0.0064 and has fallen by 2.39% in the past 30 days. Dante Cook, Business Manager at Swan Bitcoin, said that this could be a disaster for both Japan and the United States because Japan is the largest holder of U.S. Treasury bonds with only 4% of its foreign exchange reserves being gold while almost all remaining are U.S treasury bonds.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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