
Weak Yen Draws Japanese Firms Toward Bitcoin and XRP, CoinDesk Reports
As the yen slides to multi-year lows, some Japanese companies are reportedly turning to crypto assets, with hedge funds increasingly betting against the currency.

Festus Folo
Managing Editor, Africa · Lagos
A Currency Under Pressure
The Japanese yen is facing renewed strain, and according to CoinDesk, that weakness is prompting some companies in Japan to look toward crypto assets such as bitcoin and XRP. The outlet reported that hedge funds have grown more negative on the yen than at any point since 2007, expanding their positions wagering on additional declines to roughly 138,000 contracts as of June 30.
The shift in sentiment reflects mounting concern about the currency's trajectory. A depreciating yen can raise costs for imports and reduce the real value of cash holdings, factors that can push firms to explore alternative stores of value. CoinDesk indicated that this dynamic is contributing to interest in digital assets among Japanese corporations.
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