Key Points

关键点

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.

日元走弱可能会影响美国国债，从而有可能使比特币受益。Swan Bitcoin 的高管表示，当前的金融不确定性可能会导致对风险较高的加密货币山寨币的投资增加。

Implications for Japan and the U.S.

对日本和美国的影响

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.

日元贬值可能会给日本和美国带来灾难，因为日本是美国国债的最大持有者，其外汇储备中只有 4% 是黄金，其余几乎全部是美国国债，正如但丁所解释的那样库克，Swan Bitcoin 业务主管。

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.

库克表示，除非美国政府通过互换额度或后门流动性进行干预，否则日本可能被迫抛售美国国债以支持本国货币。这可能会导致传统证券的不确定性和市场流动性的激增，从而可能使比特币受益。

Bitcoin's Current Status

比特币的现状

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.

库克指出，自美国证券交易委员会 1 月份批准 11 只现货比特币 ETF 以来，比特币已经从机构投资者那里获得了一波流动性。自推出以来，这些 ETF 的净流入总额已达 117.8 亿美元。比特币目前交易价格为 61,399 美元，较过去一周上涨 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).

他进一步表示，传统金融市场当前的不确定性可能会导致更多人投资风险较高的加密货币山寨币。库克还指出，比特币 ETF 现货发行商 VanEck 最近宣布推出其 MarketVector MEMECOIN 指数，其中包括狗狗币 (DOGE)、柴犬 (SHIB)、PEPE (PEPE)、Dogwifhat (WIF)、Floki (FLOKI)、和邦克（BONK）。