Japan’s 4% bond yield spike threatens the low-cost borrowing strategy behind corporate Bitcoin buying

Japan’s bond yields spiked to around 4%, abruptly raising borrowing costs for domestic corporates. That surge undermines the low-cost leverage strategy many firms used to buy and hold Bitcoin by increasing the cost of carry and shrinking arbitrage margins. As a result, corporate demand for Bitcoin may weaken, removing a stabilizing source of buying and increasing the risk of deleveraging and price volatility.