In April and May, investors across Japan took very different paths in response to economic uncertainty.
While retail buyers rushed into gold through direct purchases and government savings schemes, one institution went the other way. Metaplanet, a public company based in Tokyo, chose to buy more Bitcoin instead.
These contrasting moves reveal more than strategy differences, they highlight the growing gap between individual caution and corporate conviction in Japan’s financial landscape.
Japanese Retail Investors Turn To Gold For Safety
Faced with rising inflation, pension worries, and a deeply unpopular government, many Japanese households choose to protect their savings through gold.
Demand surged this spring as retail buyers turned to jewellery, bullion, and coins. Some of this interest is now being funnelled through the state-backed NISA programme, which offers tax-free investment options.
Kyodo News reported that a growing number of people are using NISA to access gold-linked products, while others are buying pure gold directly in fixed monthly amounts.
Tanaka Precious Metals, one of the country’s key suppliers, recorded a 26% year-on-year rise in gold purchases between January and April. Prices also hit record highs on April 22 and again on May 8.
The trend extends to the secondhand market too. Luxury reseller Komehyo saw gold accessory sales rise by 30% compared to the previous year. Even gold funds like Mitsubishi UFJ’s fine gold investment vehicle saw inflows nearly triple since last December.
This gold rush reflects deeper anxiety. Japan’s political leadership is seen as unstable, with public trust in its direction faltering. Prices of everyday goods like rice have reached new highs.
Meanwhile, a lack of sufficient pension coverage and fears about long-term living costs have pushed people to seek out familiar assets.
For many, gold is a practical, physical alternative in uncertain times. It requires no digital knowledge, no exchange platform, and carries a long-established reputation as a store of value.
Metaplanet’s Bitcoin Strategy Signals A Different Direction
While individuals have leaned on gold, Metaplanet has made a bold move in the other direction. On May 12, it announced the purchase of another 1,241 Bitcoin, funded by issuing $15 million in 0% bonds.
This brought its total Bitcoin holdings to 6,796 BTC, worth roughly $700 million. Unlike traditional bonds, these 0% instruments do not pay any interest, suggesting that investors are betting on Metaplanet’s long-term strategy rather than seeking short-term returns.
This is not a one-off move. Metaplanet has steadily increased its Bitcoin allocation throughout the year, at an average purchase cost of $89,492 per coin.
Its approach echoes that of MicroStrategy, a US company known for using its balance sheet to acquire large amounts of Bitcoin as part of a corporate treasury strategy.
Metaplanet’s actions align with a broader institutional trend. MicroStrategy recently added another 13,390 BTC, bringing its total to over 568,000 BTC. Meanwhile, the Blockchain Group in Europe raised €12.1 million through convertible bonds to grow its Bitcoin treasury.
These are not speculative plays. They are long-term positions taken by companies that see Bitcoin not as a risky asset, but as a strategic holding.
In contrast to retail investors turning to gold, Metaplanet is betting that digital scarcity and global demand will favour Bitcoin in the years ahead.
By locking in large amounts now, and doing so with capital-efficient structures, it aims to benefit from Bitcoin’s growth without diluting its shareholder base or exposing itself to high borrowing costs.
Market Sentiment From the Divergence in Japan
The contrast between gold and Bitcoin buying in Japan highlights an important shift in how different groups interpret financial security. For retail investors, the choice is still anchored in historical certainty. Gold is tangible, familiar, and backed by centuries of usage.
For institutions like Metaplanet, the view is more forward-looking. Bitcoin represents programmability, portability, and long-term value built on limited supply and global interest.
This matters for crypto because institutional confidence has a significant influence on market structure. As companies like Metaplanet pull Bitcoin from circulation, they reduce the available supply.
Over time, this may support higher prices, especially during future market rallies. The fact that Metaplanet now holds more BTC than El Salvador also speaks to how corporate players, not just nations, are shaping the digital asset landscape.
While Japanese households have yet to fully engage with Bitcoin in the same way, movements like this may gradually shift perception.
If institutional investors continue to profit from Bitcoin’s long-term growth, it could spark new interest from retail participants who currently see crypto as too volatile or complex.
It also reflects how Japan, despite being a major economy, remains divided in its adoption of financial innovation. The tools exist, access to exchanges, education, and platforms is available, but trust and understanding still vary sharply across groups.
Conclusion
Japan’s investment landscape in 2025 tells two very different stories. Households are buying gold, hoping for stability in uncertain times.
Institutions are buying Bitcoin, preparing for what they see as the future of value preservation. Both choices make sense in context, but they highlight a striking gap in approach and mindset.
This divide may continue as economic pressure rises. Whether gold continues to dominate at the retail level or Bitcoin gains ground will depend on trust, performance, and access. But for now, Japan’s financial direction reflects a country split between tradition and transformation.