Newsletter
This week’s business newsletter explores Goldman Sachs’ U-turn on digital assets after the investment bank purchased Bitcoin and Ether ETFs.
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Japan News
Located in East Asia, Japan is a top 20 country in the world in terms of population. Japan has the third-largest economy by nominal gross domestic product and the fourth-largest economy by purchasing power parity. Tokyo is the country’s capital. Bitcoin in Japan has a notable following, as does cryptocurrency and blockchain as a whole.
The country’s regulators have deemed Bitcoin an approved money type. Japan hosts a number of crypto exchanges, and the country has regulatory requirements around the industry, creating a scene more favorable for compliant crypto-asset entities. Bitcoin’s anonymous creator, Satoshi Nakamoto, is thought to be from Japan, although little is confirmed about Nakamoto’s identity.
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Metaplanet, known as the “Microstrategy of Asia,” has raised an additional 4 billion JPY in zero-interest bonds to buy more Bitcoin.
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Despite a significant jump in quarterly revenue, Coincheck Group still reported a net loss of $98.1 million.
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The BTC purchase is part of Gumi’s broader expansion into the blockchain sector, which includes acquiring and managing “high-quality tokens.”
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Metaplanet shares have risen 4,800% as the company, known as “Asia’s MicroStrategy,” has stacked Bitcoin.
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Japan’s Financial Services Agency said the action was not about “shutting down crypto investing,” but “drawing a line in the sand” for noncompliant exchanges.
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Metaplanet, OSL Group and Boyaa led the crypto stock downturn as Bitcoin fell to $91,163 amid broader market fears over tariff trade wars.
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Japanese firm Metaplanet plans to raise roughly $745 million to fund Bitcoin purchases, aiming for 21,000 BTC by 2026 as part of its strategy to lead Japan’s Bitcoin renaissance.
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Komainu Holdings has secured $75 million in Bitcoin funding from Blockstream to expand globally, integrate advanced crypto tech and establish a BTC treasury for risk management.
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North Korea-affiliated hackers stole at least $1.34 billion worth of digital assets in 2024.
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Metaplanet holds 1,762 Bitcoin and wants to increase its stash by 467% to 10,000.
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The Japanese prime minister said it is “difficult for the government to express its views” on implementing a Bitcoin strategic reserve.
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SBI VC Trade reached an agreement with DMM Bitcoin to receive the hacked exchange’s assets, with DMM customers expected to transition to SBI in March.
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Japanese investment firm Metaplanet purchased $60 million worth of Bitcoin, the largest BTC buy it has made since it started acquiring the cryptocurrency in May.
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The OECD’s policy paper highlights AI’s potential to reshape G7 tourism, enhancing sustainability and visitor experiences while addressing risks.
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