#比特币与黄金战争 Japan's Single-Day Bond Issuance Reaches 29.6 Trillion Yen: Market Signals Behind the Record

Recently, the actions of the Japanese government have stirred waves in the global financial markets—issuing a record 29.6 trillion yen in government bonds in a single day. From another perspective, this is equivalent to burning nearly 1 billion RMB every day over a year. This is not just routine fiscal operation but a systemic liquidity release.

What is even more intriguing is the current "dual approach" of the Bank of Japan: on one side, pushing interest rate hikes to curb inflation; on the other, the government is aggressively spending money. Tightening by the central bank and easing by the government—such conflicting policies are rare in history. The result is that the yen faces unprecedented uncertainty, and market volatility is pushed to new heights.

What does all this mean for global risk assets? When traditional sovereign debt is pushed to its limits and government borrowing becomes normalized, capital will inevitably seek alternatives. Rational investors will start to consider: which assets can exist independently of debt printing logic? Which assets have genuine global consensus and scarcity?

From this perspective, assets like BTC and ETH, which have global circulation attributes and limited supply, may gain long-term purchasing power support from this liquidity wave. Japan's unprecedented fiscal expansion is laying potential funding channels for global risk assets—including cryptocurrencies.

The key question is: what is your view on the long-term impact of Japan's fiscal movements on the crypto market?
A. Bullish factor: global liquidity expansion ultimately boosts risk assets
B. Risk escalation: increased macro volatility may impact the crypto market
C. Relatively independent: crypto market logic has become fully autonomous