Bitcoin-Japanese yen pair sets new all-time high
With so much focus on bitcoin against the US dollar, the price of bitcoin against other currencies is often overshadowed.
On Thursday, bitcoin set an all-time high of 7,900,000 yen on the bitFlyer exchange, making Japan the first G7 country to see a new all-time high bitcoin price this year.
The Bank of Japan's ultra-loose monetary policy and above-target inflation have weakened sentiment around the Japanese yen.
The bitcoin-Canadian dollar, bitcoin-British pound sterling, and bitcoin-euro pairs are approximately 20-22% below their all-time highs.
The bitcoin-US dollar is about 30% below the all-time high of $69,000 at the time of writing.
Other countries outside of the G7 continue to see all-time highs in bitcoin against their respective currencies. For 21 countries (representing more than 17% of the total world population), Argentina, Turkey, Nigeria to name a few, bitcoin has set a new all-time high this year against the domestic currency.
