Bitcoin News Today: Treasury's Japan Focus Misread as Bitcoin Backing; Firms Drive Crypto Accumulation

The U.S. Treasury Department has faced confusion over a purported statement linking its policy priorities to Bitcoin, with analysts clarifying that recent comments by Treasury Secretary Scott Bessent focused on Japan's monetary strategy rather than cryptocurrency. The clarification comes amid a surge in corporate Bitcoin treasury activities, as firms across sectors continue to allocate capital to the asset class despite market volatility.

Bessent's remarks, made during a meeting with Japanese Finance Minister Satsuki Katayama on October 27, emphasized the importance of Japan granting its central bank, the Bank of Japan (BOJ), sufficient policy space to manage inflation and exchange rate stability, according to a Reuters report. "Japan's economic conditions are substantially different from the Abenomics era," Bessent stated, according to a Treasury Department release. The comments briefly boosted the yen, with the dollar falling to 151.59 yen, though markets still anticipate the BOJ will delay rate hikes until at least December. Katayama downplayed suggestions of U.S. pressure on monetary policy, noting Bessent's comments were framed within the assumption of central bank independence, according to Investing.

The false claim linking the Treasury to a Bitcoin statement appears to stem from unrelated developments in the cryptocurrency market. Meanwhile, Bitcoin's price fluctuated near $110,000 as ETFs recorded $488 million in outflows for the week ending October 30. Despite the sell-off, bullish sentiment persists. MicroStrategy CEO Michael Saylor reiterated his $150,000 target for 2025, citing regulatory progress in the U.S. and growing institutional adoption.

Corporate Bitcoin accumulation remains robust. Prenetics, a health science firm backed by David Beckham, expanded its treasury by purchasing 100 additional Bitcoin, bringing its total holdings to 378 BTC valued at $41 million. The company, now debt-free with $127 million in liquidity, plans to continue buying 1 BTC daily while pursuing larger purchases during favorable market conditions, according to Crypto.News. Similarly, Brazilian firm OranjeBTC, which holds 3,708 BTC ($408.3 million), shifted focus to stock buybacks after its October 7 public listing.

The trend extends beyond tech and finance. Fast-food chain Steak 'n Shake announced a Bitcoin treasury, allocating BTC proceeds from sales to a strategic reserve and donating 210 sats per Bitcoin meal to open-source Bitcoin development. The move, part of a broader push for mainstream adoption, aligns with cost-saving benefits from reduced payment processing fees.

Regulatory and geopolitical factors continue to shape the landscape. Tether reported $10 billion in profits for the first three quarters of 2025, bolstered by its $135 billion in U.S. Treasury reserves. Meanwhile, U.S. Treasury Secretary Bessent's advocacy for stablecoins to reinforce dollar dominance underscores Washington's strategic interest in digital assets.

As the market navigates uncertainty-including Trump-era tariff negotiations and global inflation concerns-Bitcoin's role as a treasury asset appears entrenched. However, analysts caution that corporate strategies vary: while some firms prioritize Bitcoin accumulation, others, like OranjeBTC, are recalibrating capital allocation amid price corrections.