The Bank of Japan is scheduled to hold its monetary policy meeting on June 16–17, potentially influencing global risk assets such as stocks and cryptocurrencies. Co-founder of BitMEX, Arthur Hayes, suggests that if the BOJ shifts towards quantitative easing (QE) instead of quantitative tightening (QT), it could serve as a significant catalyst for Bitcoin and other risk assets. The central bank's decision to reduce government bond purchases by 400 billion yen per quarter starting in August 2024 is under review, with discussions on potentially smaller reductions in the future. Rising concerns about Japan's sovereign bond market have led institutions to view Bitcoin as a hedge against sovereign default risks. This shift in perception, along with increasing yields on Japanese bonds, could drive Bitcoin towards a potential $200,000 valuation as it remains free from counterparty risk. Read more AI-generated news on: https://app.chaingpt.org/news

#BTC