Analyst: Japan classifying Bitcoin as a financial product may be unfavorable for Metaplanet

According to Odaily, in response to Japan's plan to classify bitcoin as a financial product this year, crypto analyst Willy Woo commented on X that this policy is positive for ordinary people. It will motivate more Japanese to buy bitcoin, as the tax rate on bitcoin gains or transactions will be set at 20% after being classified as a financial product, instead of being taxed at the marginal income tax rate (which can be as high as 43-55% for annual incomes over $57,000). However, this policy may be unfavorable for bitcoin treasury companies like Metaplanet, as their self-custodied bitcoin will lose the advantage of tax arbitrage.