6/10/2025 – Bitcoin Climbs to Record vs. Yen as Japan’s PM Sanae Signals Return to Abenomics

Bitcoin (BTC) reached a record high against the Japanese yen on Monday, outpacing its dollar pair, as newly elected Prime Minister Takaichi Sanae indicated plans to revive the pro-stimulus “Abenomics” strategy.

Abenomics, first implemented by former PM Shinzo Abe in 2012–2013, aimed to combat decades of deflation and stagnation through three pillars: aggressive monetary easing, fiscal stimulus, and structural reforms to spur investment and growth.

At a Saturday press briefing, Sanae emphasized that her administration would take the lead on both fiscal and monetary policy, underscoring a shift toward demand-driven economic growth. She highlighted the need for close coordination with the Bank of Japan to achieve “inflation supported by rising wages and corporate profits,” while maintaining accommodative monetary conditions amid what she described as a “tightrope” economy.

Her comments fueled expectations for renewed fiscal easing and a low-rate environment. Reuters reports that market odds of a BoJ rate hike this month have sharply declined, reinforcing expectations of continued accommodative policy.

The announcement boosted Bitcoin and gold sentiment. On BitFlyer, BTC/JPY reached a record ¥18,640,000, extending a five-day winning streak. Meanwhile, BTC/USD on Coinbase traded near $123,100, below its weekend peak of over $125,000.

Japanese equities also responded positively, with the Nikkei index surpassing 48,000 points. The yen weakened to 150.35 per USD, its lowest level since August 1, as traders reassessed the currency’s safe-haven status amid renewed stimulus hopes.

The combination of anticipated global Fed easing and Japan’s fiscal-monetary push has strengthened the case for cryptocurrencies and precious metals as alternative hedges against currency fluctuations.