Bitcoin Japan Corporation, formerly an apparel business founded in 1861, has reinvented itself as an investment platform focused on Bitcoin, artificial intelligence, robotics, and critical minerals. In an interview with Invezz, CEO Phillip Lord detailed the company's strategic shift, its cautious approach to Bitcoin purchases, and its investments in SpaceX and Figure AI.
From textiles to tech
The company, which changed its name in 2025, spent its fiscal year 2025 building the infrastructure needed to deploy capital internationally. This included enhancing internal controls under Japan's J-SOX framework, establishing entities in Delaware, Cayman, and Dubai, and onboarding an auditor with expertise in digital assets and AI. The legacy apparel operations are now managed separately, with a focus on operational improvement.
Lord emphasized that every new-economy investment now goes through an Investment Committee with defined return thresholds. For private and long-dated positions, the company adopts a long-term horizon and diversifies over time, a departure from the working-capital-driven decisions of its apparel past.
Bitcoin treasury: patience over timing
Bitcoin Japan raised approximately ¥9.7 billion (nearly $60 million) in July, with a portion earmarked for Bitcoin purchases. Lord confirmed that a defined allocation was set aside as a re-raise of Bitcoin capital that went unfunded previously. He stressed that Bitcoin remains part of the company's strategic treasury capital, not a total to be maximized.
“We declined to buy at past price levels when our criteria weren't simultaneously met, and we see that patience as protecting long-term value per share, not as hesitation,” Lord said. The infrastructure for Bitcoin custody, multi-signature governance, and legal/accounting opinions is already operational, but the company will only act when risk-adjusted opportunity aligns, not based on short-term sentiment.
SpaceX: a bet on AI infrastructure
Bitcoin Japan invested in SpaceX through its US subsidiary in May 2026, entering at $122 per share. By the end of June 2026, the reference valuation was around $153, marking a solid gain. Lord cautioned against reading too much into short-term price movements, noting the position is marked quarterly.
“What gives us confidence in the underlying business is the infrastructure role it plays: global launch capacity, satellite connectivity, sovereign-scale communications infrastructure,” he said. This physical layer is essential to the AI and compute buildout, making SpaceX a strategic holding rather than a short-term trade. For more on SpaceX's post-IPO dynamics, see the upcoming lockup and Bernstein's AI revenue forecast.
Figure AI and robotics
Bitcoin Japan also holds a position in Figure AI, a developer of humanoid robots for manufacturing, logistics, and warehousing. Lord framed this not as diversification for its own sake but as completing the picture of AI's physical manifestation. The investment aligns with Bitcoin Japan's own Robotics-as-a-Service strategy in Tokyo, making it a connected bet rather than a standalone one. The position is currently held at cost, with no published reference valuation yet.
Rare earths: a strategic component
Bitcoin Japan is also exploring upstream rare earth exposure, viewing critical minerals as a strategic part of the AI economy. Rare earths are essential for electronics, robotics, and renewable energy technologies, making them a logical complement to the company's AI and robotics investments. Lord did not provide specific details on planned acquisitions but indicated the company is actively evaluating opportunities.
Market context
Bitcoin's recent volatility—from under $62,000 to near $80,000—and SpaceX's post-IPO swings highlight the dynamic environment Bitcoin Japan operates in. The company's multi-pronged approach aims to capture value across AI infrastructure, digital assets, and critical materials. As Japan's equity markets face headwinds, with the Nikkei 225 sliding and yields rising, Bitcoin Japan's international diversification may offer resilience.
Lord's comments reflect a disciplined, long-term investment philosophy, prioritizing infrastructure and strategic positioning over short-term gains. Whether the strategy pays off remains to be seen, but the company's pivot from a 19th-century apparel maker to a modern tech investor is a notable transformation.
This article is for informational purposes only and does not constitute financial advice.
