Japan's latest Bitcoin financial product classification policy has sparked attention. According to crypto analysts, this change could be good news for ordinary investors. The reason is that once Bitcoin is officially categorized as a financial product, the tax on trading profits and holding gains will be calculated at a fixed rate of 20%, which is more favorable for many Japanese investors — by contrast, if calculated based on traditional marginal income tax rates, taxpayers with annual income exceeding $57,000 would face taxes of 43-55%, making the pressure significantly greater.

However, this policy also has winners and losers. For ordinary people, the reduced tax rate will indeed incentivize more Japanese to enter the Bitcoin market. But for listed companies that focus on Bitcoin reserves (such as certain well-known Bitcoin treasury companies), the situation becomes more complex. The tax advantages they previously gained through self-custody of Bitcoin may disappear, which could cause substantial impacts on their business models.