A senior Swan Bitcoin executive said a weaker yen could end up being a "disaster" for U.S. Treasuries, which in turn could be good for BTC as investors flock to other stores of value.
According to Google Finance data, as of the time of this article's publication, 1 yen was equivalent to $0.0064, down 2.39% over the past 30 days.
Dante Cook, head of Bitcoin at Swan, said this could be a disaster for Japan and the United States, as Japan is the largest holder of U.S. Treasuries, with only 4% of its foreign exchange reserves held in gold and almost all of the rest in U.S. Treasuries.
Swan Bitcoin executive: BTC could benefit from yen depreciation
2024-05-09 04:01:08
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