Live markets: Japan's collapsing yen is pushing companies into bitcoin and XRP
CoinDesk·
60-second summary
Hedge funds have turned extremely bearish on the yen, with bets on further losses surging to nearly 138,000 contracts as of June 30, the most bearish since 2007. This yen collapse is pushing Japanese companies to diversify into cryptocurrencies like bitcoin and XRP, seeking refuge from the depreciating currency and volatile markets.
Hedge funds have turned the most bearish on the yen since 2007, boosting bets on further losses to nearly 138,000 contracts as of June 30.