The Japanese yen, the third most traded fiat currency in foreign exchange markets, has experienced a significant decline against Bitcoin. This drop in value can be attributed to Japan’s struggle to combat hyperinflation and the disparity between local interest rates and U.S. Federal Reserve rates. As a result, Bitcoin has surpassed the yen in terms of direct monetary value, with one Japanese yen equating to zero BTC on April 25, according to Google Finance.

Bitcoin has been on a rally against various fiat currencies, achieving all-time highs in 14 countries following the approval of spot BTC ETFs. This surge in value has led to a positive reaction from the crypto community, with many praising Bitcoin as “sound money” and a revolutionary innovation that can provide financial freedom from traditional economic systems.

Bitcoin’s limited supply of 21 million coins, as designed by Satoshi Nakamoto, ensures that inflation is controlled through a halving process that reduces the number of new tokens in circulation. The recent halving event is expected to have a positive impact on Bitcoin’s market value in the long term, as noted by Bitwise CIO Mat Hougan.

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