Key Points

關鍵點

A weakening Japanese yen could potentially impact U.S. treasuries, potentially benefiting Bitcoin (BTC).
Swan Bitcoin's executive suggests that the current financial uncertainty could lead to increased investment in riskier crypto altcoins.

日圓走弱可能會影響美國國債，有可能使比特幣受益。

Implications for Japan and the U.S.

對日本和美國的影響

The devaluation of the yen could potentially spell disaster for Japan and the U.S. This is because Japan is the largest holder of U.S. treasuries, with only 4% of its forex reserves in gold, and the rest almost exclusively in U.S. treasuries, as explained by Dante Cook, Swan Bitcoin's head of business.

日圓貶值可能會給日本和美國帶來災難，因為日本是美國國債的最大持有者，其外匯儲備中只有 4% 是黃金，其餘幾乎全部是美國國債，正如但丁所解釋的那樣庫克，Swan Bitcoin 業務主管。

Cook suggests that unless the U.S. government intervenes with swaplines or backdoor liquidity, Japan may be forced to sell off its U.S. treasuries to support its currency. This could lead to uncertainty in traditional securities and a surge of liquidity in the market, potentially benefiting Bitcoin.

庫克表示，除非美國政府透過互換額度或後門流動性幹預，否則日本可能被迫拋售美國國債以支持本國貨幣。這可能會導致傳統證券的不確定性和市場流動性的激增，從而可能使比特幣受益。

Bitcoin's Current Status

比特幣的現狀

Cook noted that Bitcoin has already been receiving a wave of liquidity from institutional investors since the U.S. Securities and Exchange Commission approved 11 spot Bitcoin ETFs in January. Since their launch, these ETFs have seen total net inflows of $11.78 billion. Bitcoin is currently trading at $61,399, showing a 6.29% increase over the past week.

庫克指出，自從美國證券交易委員會 1 月批准 11 隻現貨比特幣 ETF 以來，比特幣已經從機構投資者那裡獲得了一波流動性。自推出以來，這些 ETF 的淨流入總額已達 117.8 億美元。比特幣目前交易價格為 61,399 美元，較過去一週上漲 6.29%。

He further suggested that the current state of uncertainty in traditional financial markets could lead to more people investing in riskier crypto altcoins. Cook also pointed to the recent announcement by VanEck, a spot Bitcoin ETF issuer, of its MarketVector MEMECOIN index, which includes Dogecoin (DOGE), Shiba Inu (SHIB), PEPE (PEPE), Dogwifhat (WIF), Floki (FLOKI), and Bonk (BONK).

他進一步表示，傳統金融市場目前的不確定性可能會導致更多人投資風險較高的加密貨幣山寨幣。庫克還指出，比特幣 ETF 現貨發行商 VanEck 最近宣布推出其 MarketVector MEMECOIN 指數，其中包括狗狗幣 (DOGE)、柴犬 (SHIB)、PEPE (PEPE)、Dogwifhat (WIF)、Floki (FLOKI)、和邦克（BONK）。