'Investors can no longer ignore the developments in Japan,' writes godbole17 as the yen slides and bitcoin trades at a discount there. This morning's First Mover Americas.
While the Japanese yen's recent slide has scared the country's energy buyers, the investor community seems to be impervious to the heightened fiat currency volatility.
Even so, bitcoin is trading at a discount in the Japanese yen market, according to data tracked by Paris-based Kaiko Research. The spread between the BTC/USD and BTC/JPY markets flipped to negative early this month as the yen started to lose ground. "Only a few Japanese investors have noticed [the yen fall]," Kobayashi told CoinDesk in a LinkedIn chat."There is also a welcoming mood, which is wrong, as they believe that a weaker yen will raise the price of stocks."Historically, there has been a near-linear relationship between the yen and Japanese stocks. BOJ governor Haruhiko Kuroda told Parliament last week that"there is no change to my view that a weak yen is generally positive for Japan’s economy.
"The 1.
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