BitMEX exchange founder and Maelstrom crypto fund CIO Arthur Hayes stated that the weakening Japanese Yen could induce liquidity and boost“I think that a USDJPY surge towards 200 is enough to put on the Chemical Brothers and “Push the Button.”
At the time of writing, USDJPY traded at $156. The USD has strengthened against the Yen in 2024, with a YTD performance of 10%.How a depreciating Yen could boost crypto For perspective, a dropping Yen means it will be cheaper for Japan to export more goods in bulk to the rest of the world. Such a move would make its exports very competitive compared to China’s.
According to Hayes, the US could intervene and strengthen the Yen by devaluing the USD by increasing its supply.
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