A wave of Japanese companies has begun to adopt Bitcoin as a key asset in their financial portfolios, marking a revival of Japan's role in shaping the global cryptocurrency economy.
Bitcoin Investment Trends in Japan
This move reflects growing concerns about inflation, currency depreciation, and the demand for diversified financial strategies.
Metaplanet Inc., a Tokyo-based company, is leading this trend. The company has transformed a significant portion of its balance sheet into Bitcoin. As of August 4, 2025, Metaplanet holds 17,595 BTC, ranking seventh globally among public companies.
Metaplanet's "555 million" plan aims to reach 100,000 BTC by 2026 and 210,000 BTC by 2027, reflecting a long-term commitment to a Bitcoin strategy.
Beauty salon operator Convano has also joined this movement, aiming to raise 21,000 BTC by March 2027. They established a Bitcoin Strategy Office in July 2025 and invested $2.7 million in BTC, marking a significant shift in Japanese corporate finance.
Fashion retailer Mac-House will rebrand to Gyet Co., Ltd. in September, reflecting a shift from fashion to cryptocurrency. The company plans to invest $160 million in purchasing and mining BTC.
Kitabo, a textile manufacturer with 70 years of experience, has purchased 3.32 BTC and launched a daily Bitcoin purchase program with a budget of $5.4 million.
Toho Remac, listed on the Tokyo Stock Exchange, has approved a one-year plan to purchase up to 1 billion yen ($6.8 million) of Bitcoin and Ethereum, completing its first transaction on August 6 with 1.4475 BTC and 45.6581 ETH.
Ken Kawai, an advisor to the Japan Cryptoasset Business Association, stated, "Market expectations have pushed valuations three or four times the value of BTC. This could signal a bubble and needs to be monitored closely."
Regulatory Reform to Facilitate Bitcoin ETFs
Japan's Financial Services Agency (FSA) established a new working group in July to consider changing the classification of cryptocurrency assets from "payment methods" to "financial products." This legal change will pave the way for the launch of the first public cryptocurrency ETFs in Japan.
SBI Holdings has proposed two ETF products: one combining gold and digital assets, while the other holds spot Bitcoin and XRP.
Currently, investors must buy cryptocurrency through exchanges, and profits from these transactions are taxed as other income—up to 55%. This legal change would place ETFs under a different tax framework, potentially qualifying for a capital gains tax of 20%, similar to stocks.
This tax reform could open opportunities for capital from institutions. Japan's complex legal structure has hindered pension funds and asset managers, but they may soon add cryptocurrency to their portfolios.
Japan's Finance Minister Katsunobu Kato expressed support for this change, emphasizing that cryptocurrency assets should be recognized as investment products rather than just payment methods. Discussions began in 2025 to transition regulation from the Payment Services Act to the Financial Instruments Act.
SBI is also expanding its Web3 strategy through stablecoins, implementing USDC, Ripple's RLUSD, and yen-based stablecoins, aiming to build an integrated financial infrastructure linking securities, banking, and digital assets.
Sustainable Bitcoin Mining
Japanese companies are also expanding into Bitcoin mining. Convano plans to start mining operations in October 2025, using renewable energy at data centers in Texas and Georgia.
The company will implement demand-response systems, supporting the stability of the local power grid, in line with environmental goals and cryptocurrency strategies.
Gyet Co., Ltd. is also entering the mining space with plans to invest over 10 billion yen in mining equipment, utilizing its data centers to reduce costs.
By self-mining Bitcoin, companies can fund their financial goals, combining sustainability with financial innovation. Japanese companies are not just buying Bitcoin—they are engaging in its ecosystem.
Japan Restores Leadership Role in Cryptocurrency
Japan's cryptocurrency momentum is attracting global attention. In 2014, Tokyo-based Mt. Gox handled over 70% of Bitcoin transactions worldwide. Although this exchange collapsed, Japan drew many valuable lessons from the event.
Japan became the first country to grant licenses to cryptocurrency exchanges, establishing a framework for global regulation. The country currently maintains strong oversight while still promoting innovation.
"Japan is a pioneer in Web3 regulation," said Binance CEO Changpeng Zhao in 2023 as Binance returned to Japan. "We are pleased to offer services in a clearly defined and robust regulatory environment."
Currently, Japan has over 12 million cryptocurrency trading accounts managing 5 trillion yen, equivalent to $34 billion in cryptocurrency assets, according to industry data. About one in ten citizens currently holds cryptocurrency.
Globally, ETF funds are driving Bitcoin's mainstream appeal. BlackRock, Fidelity, and Grayscale launched spot Bitcoin ETFs in the U.S. in 2024, while Standard Chartered estimated that institutions conducted 3% of Bitcoin purchases that year.
If Japan approves yen-denominated Bitcoin ETFs, this could enhance global liquidity. Japanese investors will have a risk-hedged approach to digital assets. Analysts predict this will bolster long-term demand while lowering entry barriers.
However, widespread adoption also carries risks. The FSA is balancing innovation and investor protection while seeking transparency, clear disclosures, and safeguards against excessive volatility.
If these trends continue, Japan could restore its position as a cryptocurrency powerhouse, this time with both organizational strength and regulatory credibility.
