Swan Bitcoin Executive: BTC may benefit from the depreciation of the Japanese yen
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.
Disclaimer: everything in the article represents the author's point of view and has nothing to do with this platform. This article is not intended to be used as a reference for making investment decisions.