Bitcoin Keeps Weekly Loss as 'Anti-Risk' Yen Strengthens After BOJ Rate Hike
The yen’s popularity as a funding currency can cause knock-on effects in other markets, helping tighten global financial conditions, BlackRock said.
The yen’s popularity as a funding currency can cause knock-on effects in other markets, helping tighten global financial conditions, BlackRock said.
The Bank of Japan raised its key interest rate to 0.25% on Wednesday. With the Federal Reserve poised to start lowering rates soon, that could help weaken the dollar and help the yen. While the BOJ move was widely expected, it’s significant because it ends decades of Japan keeping short-term interest rates near or below zero.
Investors should keep it simple and consider the world's premier digital asset.
Bitcoin and Ethereum will be the only cryptocurrencies traded via ETFs in the near future.
U.S. presidential candidate Donald Trump's recent call for the United States to lead global Bitcoin production could create significant business opportunities.
Elon Musk, the CEO of Tesla, voiced a positive outlook on Bitcoin, acknowledging its value and hinting at an appreciation for other digital currencies.
Bitcoin has exhibited a strong positive correlation with NVDA since late 2022.
-- Most Asian currencies rose on Wednesday before more cues on interest rate cuts from the Federal Reserve, while the Japanese yen was volatile following mixed signals...
-- Australian consumer price index inflation grew as expected in the second quarter, while softer-than-expected core inflation drove up bets that the Reserve Bank will...
The purchase of bitcoin for a new strategic reserve would be financed partly by revaluing Federal Reserve's gold, according to draft legislation from U.S. Senator Cynthia Lummis's office. The plan proposes establishing a "Bitcoin Purchase Program" of up to 200,000 BTC a year over a five-year period. U.S. Senator Cynthia Lummis's plan for a new Strategic Bitcoin Reserve would finance purchases of the cryptocurrency partly by revaluing gold certificates held by the Federal Reserve System, according to a draft of the legislation obtained by CoinDesk.