Despite the high-profile meeting between US President Donald Trump and Japanese Prime Minister Sanae Takaichi, the crypto market showed no visible reaction, according to CryptoQuant’s latest analysis. The announcement of extensive bilateral commitments, including multibillion-dollar US investments and strategic cooperation pledges, failed to move Bitcoin’s price, which is currently trading above $113,000.
Meanwhile, Japan’s Nikkei 225 index surged to a record high above 50,000 points, driven by the yen’s depreciation and strong export-driven momentum.
Japan’s Crypto Void Deepens
CryptoQuant’s data over the past 12 months shows a weak correlation coefficient of approximately 0.2 to 0.4 between Bitcoin and the Nikkei 225. While US equities and macroeconomic developments often exert significant influence on crypto sentiment, the same cannot be said for Japan’s political and financial shifts, which appear to have little impact on Bitcoin’s performance. The report attributes this disconnect to Japan’s limited role in global Bitcoin ownership and market participation.
Japanese and regional holders represent only a small fraction of the total global Bitcoin supply. This is vastly different from the US, where investors and international institutions dominate ownership and accumulation trends. Such a pattern indicates Japan’s marginal position in crypto geopolitics. The analysis also notes that Japanese policymakers have yet to prioritize Bitcoin or digital assets as a key component of national economic or technological strategy. Unlike the United States, where exchange-traded funds (ETFs), regulatory developments, and institutional engagement shape market behavior, Japan’s influence remains minimal.
If Japan seeks to reclaim relevance in global finance – whether in crypto, AI, or green tech – it must undertake deep structural reform. Until then, even historic summits won’t move the needle in crypto.
Beyond the Political Stage
Japan’s corporate sector appears increasingly willing to fill part of that gap. For instance, Tokyo-listed Metaplanet has become a major example after adopting a Bitcoin-first treasury approach in 2024 to hedge against the yen’s persistent weakness and sluggish domestic conditions. The company now holds 30,823 BTC and ranks as the fourth-largest corporate Bitcoin treasury worldwide and the largest in Asia.
Earlier this year, South Korean-Japanese game publisher Nexon also expanded its holdings with the purchase of 1,717 BTC.
In July, Japanese AI firm Quantum Solutions announced plans to build a Bitcoin reserve of up to 3,000 BTC over the next year, while long-standing textile company Kitabo revealed it would accumulate Bitcoin through a dollar-cost averaging strategy.