Japan’s Yen Falls Again Despite $97 Billion Aid, Raising Bitcoin Risk

Japan’s yen weakened to 160.16 per dollar on Friday, 28 August, despite about $97 billion in support over the past month, renewing pressure on officials and raising potential spillover risk for Bitcoin. According to BeInCrypto, Japan spent ¥15.4 trillion backing the currency between 30 July and 26 August, including rare joint intervention with the US on 31 July. Bitcoin briefly fell below $77,000 after Federal Reserve chair Kevin Warsh pledged to bring inflation to target, while a stronger yen could unwind carry trades and force asset sales. Metaplanet CEO Simon Gerovich said Asian savers are ready to move beyond cash and into Bitcoin.