UTXO’s Duke Waldrop Says Yen Repricing Could Pressure Bitcoin

Yen repricing could pressure Bitcoin (BTC) if macro funds with yen-denominated liabilities sell assets to raise cash, said Duke Waldrop, UTXO Management’s head of Asia markets. He described Bitcoin’s 24-hour market as a possible source of liquidity for those funds. Bitcoin fell to $79,000 over the weekend. Japan’s two-year government bond yield neared 2% Monday as rate-hike expectations strengthened . Waldrop also said Metaplanet was trading below the value of its Bitcoin holdings. He said a possible removal from MSCI indexes on Nov. 30 would not change his view, which he tied to the execution of the Tokyo team.