When most users of the cryptocurrency space hear the name Japan, their first thought could be Metaplanet. The public company models the acquisition of Bitcoin (BTC) after a Michael Saylor-led strategy.
However, before Metaplanet adopted a Bitcoin accumulation strategy in April 2024, Japan was already making history in the crypto space.
Japan’s groundbreaking Bitcoin regulations
In particular, as highlighted by Fidelity Digital Asset, Japan’s top investment manager, it made history eight years ago. On April 1, 2017, Japan became the first country to recognize BTC as its fiat currency. This proved to be a major milestone at the time.
Japan became the first country to recognize #bitcoin as a legal payment method on April 1, 2017. The assets were valued at just $1,098 at the time. Japan’s positive stance and new global interest helped BTC reach a new high of $19,343.04 in the same year. pic.twitter.com/sjaqxzmwia
– Fidelity Digital Assets (@digitalAssets) April 1, 2025
The disposal of friendly regulations in Asian countries on key digital assets paved the way for domestic companies to accept BTC. After official recognition, residents and visitors can purchase BTC as a legal payment method.
Interestingly, this development had a positive impact on the broader cryptocurrency market. Japan’s positive regulatory stance sparked global interest in digital assets, driving a major bull run in 2017.
When Japanese authorities gave a nod, the BTC was valued at $1,098. However, the rise in interest ignited by the Japanese movement pushed Bitcoin prices off the roof, reaching an all-time high of $19,343.04 at the end of 2017.
Can Japanese models encourage global adoption of Bitcoin?
The Fidelity Digital Asset post reminds us of Bitcoin’s rich history and its resilience as a major crypto asset.
More importantly, it highlights how regulations can drive adoption and price growth in the crypto space.
Today, thanks to lucrative regulations, Metaplanet continues to buy Bitcoin even with debt funds. For profitability, we recently issued zero-in test bonds worth $13.3 million for future Bitcoin purchases.
If other major countries follow the Japanese model, we believe that Bitcoin’s value can easily overtake gold faster than loyal investment Julien Timmer projected.
