Add as a preferred source on GoogleUTXO’s Duke Waldrop Says Yen Repricing Could Pressure Bitcoin
Bitcoin fell to $79,000 over the weekend. Waldrop also said a possible removal from MSCI indexes on Nov. 30 would not change his view of Metaplanet.
Yen repricing could pressure Bitcoin (BTC) if macro funds with yen-denominated liabilities sell assets to raise cash, said Duke Waldrop, UTXO Management’s head of Asia markets. He described Bitcoin’s 24-hour market as a possible source of liquidity for those funds.
Bitcoin fell to $79,000 over the weekend. Japan’s two-year government bond yield neared 2% Monday as rate-hike expectations strengthened.
Waldrop also said Metaplanet was trading below the value of its Bitcoin holdings. He said a possible removal from MSCI indexes on Nov. 30 would not change his view, which he tied to the execution of the Tokyo team.
The Federal Reserve and Bank of Japan (BOJ) are due to make interest-rate decisions this week.
Enna Lee
ReporterEnna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.