[Survey on Cryptocurrency Investment] Nearly 60% of High-Value Holders Plan to Hold for Over 10 Years —

J-CAM Inc., the operator of "BitLending" and "Iolite," announced on the 27th the results of a survey on cryptocurrency investment conducted among 1,001 men and women aged 30 to 60 with annual incomes of 6 million yen or more who currently hold cryptocurrencies.

In March 2025, it was reported that Japan's Financial Services Agency (FSA) plans to amend the Financial Instruments and Exchange Act to legally classify cryptocurrencies as financial instruments. As the financial productization of cryptocurrencies progresses, public interest is expected to rise, and opportunities to encounter these assets in daily life are likely to increase. In this context, what are everyday investors who hold cryptocurrencies thinking about in terms of asset management?

Survey Overview: "Survey on Cryptocurrency Investment"

• Survey Period: Friday, May 9 – Saturday, May 10, 2025
• Method: Online survey conducted via PRIZMA
• Number of Respondents: 1,001
• Target Group: Men and women aged 30 to 60 with annual incomes of 6 million yen or more who currently hold cryptocurrencies
• Conducted by: J-CAM Inc., operator of “BitLending” and “Iolite”
• Panel Provider: PRIZMA Research

Survey Summary

• Main reasons for holding crypto assets: “Promising for asset management” and “Profit from price increase”
• Most common holding amount: “Less than 100,000 yen”; over 10% hold more than 10 million yen
• About 30% of holders plan to keep their crypto for over 10 years—the most common response
• Among those holding over 50 million yen, nearly 60% intend to hold for over 10 years
• Top investment strategies include “long-term holding,” “diversification with surplus funds,” and “lending”
• Compared to other financial products, many respondents see advantages in crypto’s future potential
• Over 40% predict Bitcoin's price will exceed 30 million yen in the next 10 years
• Strong expectations for benefits from legal reforms, particularly in taxation and financial product classification

At the outset, respondents were asked about their main reasons for initially investing in cryptocurrencies. The most common response was “Because I saw it as a promising means of asset management/investment” (51.0%), followed by “Because I expected to gain profits from price increases” (43.8%), and “Because I wanted to incorporate it as a means of diversification (risk hedging)” (26.2%).

These responses indicate a clear trend of perceiving cryptocurrency as a viable tool for building assets. The mention of “diversification” also suggests that many holders view cryptocurrencies as a way to hedge risk by including them in their portfolios.

When asked what specifically they found appealing about cryptocurrency investment, the most cited point was “The potential for high returns from price appreciation” (40.5%), followed by “The ease of starting with a small amount” (38.7%), and “The flexibility of 24/7 trading” (25.7%).

These results show that the reasons for holding cryptocurrencies and the points of satisfaction are largely aligned. Overall, this suggests that investors are generally satisfied with their original expectations and view cryptocurrencies as a rational part of their asset-building strategy.

The most common amount of cryptocurrency held was "less than $700," while more than 10% of respondents held over $70,000 worth

Next, respondents were asked about the amount of cryptocurrency they currently hold. The most common response was "less than 100,000 yen" (23.0%), followed by "1 million to less than 3 million yen" (15.7%), and "100,000 to less than 500,000 yen" (13.7%).

While “less than 100,000 yen” was the most frequent response, the survey also revealed that over 10% of respondents held more than 10 million yen worth of crypto assets, indicating a notable presence of high-value holders.

These findings suggest that cryptocurrencies are already being incorporated into the portfolios of a certain segment of wealthy individuals, alongside traditional assets such as stocks and real estate, as a serious option for asset management.

When asked "How long do you plan to continue holding your crypto assets?", the most common response was "Over 10 years" (30.3%), followed by "3 to less than 5 years" (22.1%) and "1 to less than 3 years" (21.0%).
In total, nearly 60% of respondents indicated a long-term holding plan of more than 3 years.

The fact that "over 10 years" — the longest time frame option — received the highest response rate suggests that many investors view cryptocurrencies as assets with significant future value.

On the other hand, only 4.7% selected "less than 6 months", indicating that short-term holding is relatively uncommon, and that the overall investor mindset is shifting toward medium- to long-term strategies.

This raises the question: Does the holding period vary depending on the amount of assets held?

Among those in the small-scale holding group — specifically those holding less than 100,000 yen or between 100,000 and 500,000 yen — over 40% responded that they intend to hold their assets for more than 10 years, indicating a strong expectation for the future value of cryptocurrencies.

In the high-value holding group, those with holdings of over 50 million yen, this long-term intent was even more pronounced, with approximately 60% indicating plans to hold for over 10 years.

This suggests that investors who have already accumulated substantial wealth are less focused on short-term gains from price volatility and instead see cryptocurrencies as stock-like assets worth holding over time.

Meanwhile, in the mid-tier group (those holding between 1 million and 10 million yen), the most common responses were “1 to less than 3 years” and “3 to less than 5 years”, indicating a preference for a short- to medium-term holding period.
However, the proportion of respondents considering holding for less than one year remained consistently low, implying a general trend toward gradual, long-term asset accumulation.

These findings indicate that a strong tendency toward long-term holding exists among crypto investors, and that many view this approach as an effective investment strategy.

Next, respondents were asked about the investment strategies they personally practice or consider effective when managing their crypto assets. The most common response was “I continue to hold long-term even when prices drop” (30.6%), followed by “I invest only within the amount I can afford to lose” (25.4%), and “I use lending services to earn interest” (22.8%).

These responses suggest that many investors are not simply seeking gains from price fluctuations but are instead prioritizing strategies such as “holding despite volatility” and “managing assets prudently to minimize risk.”

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Additionally, a notable number of respondents indicated that they are leveraging lending services to generate returns on their held assets.

J-CAM Inc. operates “BitLending”, a crypto lending platform that allows users to deposit their assets and earn returns.

■ Why BitLending is Chosen by Investors

1. Annual lending rates of up to 10%
2. Asset protection through partnerships with security organizations
3. Publication of regular reports on the operation of deposited crypto assets
4. Free return fees up to four times per year
5. Industry-leading return speed — within 7 business days
6. Referral rewards: both the referrer and referee receive a 10% interest rate bonus
7. Published by the Web3.0-focused media brand Iolite

When asked about the advantages of cryptocurrencies compared to other financial products, the most common response was:
“Because there is a possibility that their value will surge in the future, making them a viable tool for asset building” (38.9%), followed by
“Because I can wait for the right time to sell based on expectations of long-term price increases” (35.9%), and
“Because they can serve as a hedge against risks like inflation and depreciation of fiat currencies such as the yen” (31.9%).

These responses indicate that many investors place a strong emphasis on the future potential of cryptocurrencies. While aware of the risks posed by price volatility, they remain optimistic about the long-term growth prospects of crypto assets.

On the other hand, what are the risks perceived by those who hold cryptocurrencies?

When asked about the risks associated with holding cryptocurrencies, the most frequently cited concern was:
“High price volatility, making asset value unstable” (42.4%), followed by
“The possibility of assets being stolen through hacking or fraud” (33.2%), and
“The risk of funds being locked due to exchange bankruptcy or withdrawal freezes” (25.4%).

These results show that while many investors expect high returns from cryptocurrencies, they are also deeply concerned about the downside risks, particularly price drops.
In addition, threats such as hacking, unauthorized access targeting self-custodial wallets or exchanges, and vulnerabilities in security are clearly perceived as serious risks by many respondents.

43.1% of respondents predicted that the price of Bitcoin would exceed $200,000 (approximately ¥30 million) in 10 years

When asked about their 10-year price forecast for Bitcoin, the responses showed that 43.1% of investors expect the price to exceed $200,000 (approximately ¥30 million).
This indicates that many investors are optimistic about Bitcoin’s long-term growth potential.

On the other hand, what kind of policy changes do investors hope to see in Japan regarding cryptocurrency regulation?
When asked about their expectations for future cryptocurrency policies in Japan, the most common response was:
“Tax reform (easing the taxation method on profits and simplifying reporting)” (52.5%), followed by
“Introduction of a system for annual profit/loss offsetting and carryforward deductions” (34.4%), and
“Strengthening exchange regulations and standardizing security protocols” (24.3%).

These responses reflect an overwhelming demand for reduced tax burdens and streamlined regulatory procedures.
It can be said that a more robust legal and institutional framework is essential for integrating cryptocurrencies into society as a legitimate investment asset.

Nearly half of respondents expect a reduction in tax rates as a result of the financial product classification of cryptocurrencies

When asked about the anticipated benefits of classifying cryptocurrencies as financial products, the most common response was:
“Reduced tax rates through 20% separate taxation” (47.8%), followed by
“Simplified tax procedures” (31.5%), and
“The possibility of offsetting profits and losses and carrying forward deductions” (27.7%).
These results clearly indicate that improvements to the tax environment are the top concern among investors.

In particular, the introduction of separate taxation is expected to lower the entry barrier for individual investors and potentially contribute to the healthy development of the market.
Additionally, the creation of new financial products, such as ETFs and staking-based instruments, is likely to help further establish cryptocurrencies as a viable option for asset management.

Based on the findings of this survey, it is evident that the perception of cryptocurrency has evolved beyond short-term trading or "get-rich-quick" expectations. There is now a growing trend of utilizing crypto assets as part of a long-term, strategic asset-building approach.

Respondents cited their primary reasons for investing in cryptocurrencies as:

• “Promising for future asset management,”
• “Expecting profits from price increases,” and
• “Positioning crypto as part of a diversified portfolio.”

These responses suggest that many investors are now accepting short-term volatility while viewing cryptocurrencies as assets with significant long-term potential — signaling a more mature investor mindset.

A noteworthy finding is that regardless of holding amount, the most common response regarding planned holding duration was “more than 10 years.”
Additionally, over 40% of respondents expect Bitcoin to exceed $200,000 (approx. ¥30 million) in the next decade, emphasizing the presence of a significant long-term investor segment confident in crypto’s future value.

In other words, crypto assets are no longer seen as “high-risk speculative tools,” but rather as “strategic alternative assets” — playing an increasingly important role for modern investors who value diversification.

However, despite this forward-looking momentum, there remain numerous institutional and regulatory hurdles.
Alongside risks such as price volatility and security vulnerabilities, Japan’s complex tax system has emerged as the greatest barrier to wider adoption.
Many investors voiced frustration over the inability to offset gains and losses, and expressed strong support for reforms such as carryforward deductions, lower tax rates, and simplified tax filings.

Unless regulatory improvements are made, the use of crypto assets for asset management will remain limited to a narrow segment of the population and will not reach the level of a mainstream investment vehicle.
In Japan, where a self-declaration tax system is in place, the burden on individual investors to accurately file crypto-related taxes is exceptionally high, and without improvement in this area, broader adoption of crypto as a viable asset-building tool will likely be hindered.

Crypto assets are steadily gaining long-term trust from individual investors.
The question now is whether regulations will support or hinder this progress.
Future policy decisions will be key in shaping the trajectory of crypto adoption.

Usage Note:

When quoting or referencing this press release, please ensure the following:

• Indicate clearly that the source is J-CAM Inc.
• If used on websites, please include the citation and hyperlink below:

Source: J-CAM Inc. "Survey on Cryptocurrency Investment"
URL: https://bitlending.jp/crypto-media/crypto-investment-survey/

About BitLending – A Crypto Lending Service to Grow Your Assets

J-CAM Inc., the company behind this survey, operates "BitLending," a service that allows users to deposit their crypto assets and earn interest.

■ What is BitLending?

• Earn up to 10% annual interest
• Simple procedures with returns available within 7 business days upon request
• Ideal for utilizing crypto assets that are otherwise idle in wallets or exchanges, with robust security measures

■ Why BitLending is Chosen

1. Up to 10% annual lending rate
2. Asset protection through partnerships with security firms
3. Transparent reporting on asset operations
4. Four free asset return requests per year
5. Industry-leading return speed: within 7 business days
6. Referral benefits: both referrer and referee receive a 10% interest bonus
7. Published by Iolite, a Web3.0-focused magazine

■ BitLending: https://bitlending.jp/
■ Contact: https://bitlending.jp/customer-support/contact/
■ Official X (Twitter): https://x.com/Bit_Lending