Bitcoin records the highest price in history at $128,000. In yen, it amounts to about 18 million yen.

This time it has risen with a very impactful ascent, drawing a lot of attention.

This week is said to be a "Crypto Asset Week," and over the next few days a series of bills formalizing the use of crypto assets are set to be deliberated in the U.S. Congress.

After a night of a correction, it remains in a vacuum area that previous prices had not yet reached.

For other currencies as well, Ethereum and others have risen even more than Bitcoin. However, compared to the $4,900 in November 2021, the current price around $3,000 still suggests that the peak has not been fully reached. The recent range upper limit of $2,800 has been significantly broken upward.

Also, XRP (Ripple) rose 5% in one day, breaking $3 and reaching a four-month high.

Recently, there has been an increase in corporate purchases of Ethereum.

· SharpLink adds to Ethereum holdings, total holdings exceed 270,000 ETH.

· Bit Digital Inc. raised $67.3 million (about 10 billion yen) through stock transactions and announced plans to purchase ETH with the funds. The company has acquired about 100,603 ETH to date.

Additionally, regarding Japanese companies,

Japan-listed Value Creation announced it would add to its Bitcoin purchases.

So far, Bitcoin purchases totaling 400 million yen have been made, and an additional 100 million yen was purchased this time.

Including these, their total holdings are expected to be about 36 BTC (approximately 630 million yen).

The footwear industry is also planning to purchase Bitcoin.

Japan-based Toho Remac announced Bitcoin and Ethereum purchases.

They plan to purchase mainly Bitcoin and Ethereum with an annual limit of 1 billion yen, but since other currencies are mentioned, they are also expected to purchase some of other currencies.

On X (Twitter),

“Some people may decide to realize cash from Bitcoin ATHs, but that means they are going to hold new yen again,” a message that this Monday morning aims to convey.

BTC realization equals new yen holdings

“Welcome to a fiat-long position that is sure to fall again” — Toru Sasaki

Such words have become a topic of conversation.

If you consider selling Bitcoin when its price rises to avoid a drop, these words may apply. However, selling Bitcoin typically means converting to Japanese yen, though converting to other assets can also be a strategic move.

Since selling for a profit incurs taxes, you should consider that as well, but in any case, it’s something you need to think about.

◯ One aspect of Bitcoin’s rise is the Genius Bill

What is drawing attention during Crypto Asset Week is the Genius Bill.

This is a law proposed to regulate national stablecoins (cryptocurrencies pegged 1:1 to stable assets like the U.S. dollar).

Stablecoins, unlike highly volatile currencies like Bitcoin, are pegged 1:1 to stable assets such as the U.S. dollar and are used for international remittances, settlements, hedging against market fluctuations, and currency risk measures in developing countries.

This bill is about the practical use of cryptocurrencies and is a very important bill; the GENIUS bill aims to establish a regulatory framework to promote the safe and competitive adoption of stablecoins. Consumer protection and strengthening the influence of the U.S. dollar are anticipated as a result.

People actively trading cryptocurrencies have used USDC or USDT, holding stable currencies after profits from Bitcoin and other assets.

◯ Rising Japanese government bonds yield

Japan's long-term interest rates rose to their highest levels.

Current yields: 20-year JGB 2.64% (26-year high)

30-year JGB 3.20% (all-time high)

40-year JGB 3.55% (all-time high; the previous high was 3.69% on May 22, 2025)

With factors such as political concerns and inflation expectations, this is said to indicate rising yields in Japan’s ultra-long bond market.

A rising yield could increase corporate borrowing costs, potentially slowing economic activity, signaling tighter financial conditions and potentially affecting risk assets like stocks.

Despite increasing economic uncertainty, Bitcoin is reaching new highs. Ironically, we’re in an era where this is becoming real.

◯ About Bitcoin’s trend this year

I would like to share the questions I received this time.

·Trump tariffs and their impact on the economy

Under the Trump administration, tariff policy risks heightening tensions with U.S. trading partners (especially China) and impacting the global economy. In the short term it aims to protect domestic industries, but in the long term it could trigger inflation and supply chain disruptions, potentially harming the U.S. and the global economy. In the currency market, the dollar is likely to strengthen while there will be significant yen weakness. This can be positive for Japanese exporters but may raise import costs and domestic inflation pressures.

·Bitcoin as a potential absorber of economic uncertainty

Yesterday, Bitcoin broke through $120k and showed significant influence. This is evidence that it is being watched as a hedge against economic uncertainty and depreciation of fiat currencies. In reality, companies in various countries are already moving to purchase Bitcoin.

In the shorter term, it may move with stocks, but given the current trend, there could be upside due to risk-off dynamics and inflation hedging.

·How much will BTC rise this year?

Looking at forecasts from prominent figures,

Fundstrat's Tom Lee, in a CNBC interview and via a post on X, boldly predicted BTC could reach $3 million per coin by the end of 2025.

Donald Trump? No, John Keys? (Note: this seems like a misreference in the original; the translation preserves the name as is) He is consistently bullish on BTC, predicting it would reach $250,000 by the end of 2025.

Arthur Hayes predicts BTC could reach $250,000 by the end of 2025.

Standard Chartered Bank projects BTC at $135,000 by end of Q3 2025 and $200,000 by end of Q4 2025.

If favorable conditions accumulate in the latter half of this year, it is possible for the price to approach $200,000.

If U.S. rate cuts materialize after September this year, that would be a major upward pressure on BTC.

In that case, $200,000 would be a significant milestone price, and it could be possible depending on conditions.

◯ ETH as currency, Ethereum as digital economy—fidelity

Fidelity, the third-largest U.S. asset manager with about $5.9 trillion in assets under management, states in a report that native blockchain currencies function as network compute units and means of exchange, similar to a national currency.

ETH plays the role of a base currency used for transactions and for ensuring network security.

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(This article has been published since 2016)

Cryptocurrency Market Analysis [July 15]