Japanese Exchange CEO Announces Bitcoin's New Japanese Yen Record High
CryptoNewsTerminal Staff21 May, 2024
Japanese Exchange CEO Announces Bitcoin's New Japanese Yen Record High
SBI VC Trade, a cryptocurrency exchange owned by Japanese financial services provider SBI Group, announced today that Bitcoin (BTC) has reached a new all-time high against the Japanese yen (JPY). The exchange reported that BTC is currently trading at 11,361,200 yen, marking a 2.44% increase from the previous day. This news follows a recent surge in the price of cryptocurrencies, with Bitcoin leading the charge. The factors driving this surge are complex and include increased institutional adoption, a growing awareness of digital assets among retail investors, and the perceived value of Bitcoin as a hedge against inflation. As a result of this price increase, the value of Bitcoin in JPY has now reached a new record high, further solidifying its position as a major player in the global financial landscape.
