Bitcoin Price to Soar as Japan’s Economy Worsens: BitMEX’s Art | Bitcoin Magazine
Bitcoin Price to Soar as Japan’s Economy Worsens: BitMEX’s Arthur Hayes
The weakening Japanese yen could potentially lead to actions that drive up the price of bitcoin and other cryptocurrencies, according to former BitMEX CEO Arthur Hayes. His central argument revolves around the fact the Japanese yen has been rapidly weakening against the US dollar due to the large interest rate differential between the two currencies. This hurts Japan’s export competitiveness against China.
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