Bitcoin Hits All-Time High Against Yen as Japan’s New PM Embraces Abenomics
Bitcoin (BTC) soared to a record against the Japanese yen on Monday, boosted by statements from Japan’s newly elected Prime Minister Takaichi Sanae signaling a revival of pro-stimulus “Abenomics” policies. The BTC/JPY pair climbed past ¥18,640,000, surpassing gains seen against the U.S. dollar.
Abenomics, introduced by former PM Shinzo Abe in 2012–2013, combines aggressive monetary easing, higher government spending, and structural reforms aimed at ending prolonged deflation and spurring economic growth.
At a press briefing, Sanae emphasized the government’s active role in fiscal and monetary policy, highlighting coordination with the Bank of Japan to achieve “demand-driven inflation backed by rising wages and corporate profits.” She also noted that maintaining accommodative monetary conditions remains essential for economic stability.
Markets responded quickly: Bitcoin’s USD price hovered around $123,100, the Nikkei 225 index surpassed 48,000 points, and the yen weakened to 150.35 per dollar, marking its lowest level since August 1.
Analysts say renewed stimulus expectations and a softer yen could support risk assets like cryptocurrencies and gold, providing BTC bulls with additional tailwinds amid a global backdrop of continued monetary easing.
