As debate over a "200 million won retirement fund" draws attention again, bitcoin is being discussed as an alternative for protecting assets in an environment of inflation and low interest rates.

On Jan. 30, blockchain media outlet CoinPost said that in an era when saving alone makes it hard to ease retirement anxiety, diversified investment using bitcoin and management methods that earn interest on held assets could be alternatives.

The outlet cited a 2019 Japan Financial Services Agency report, introducing that an average elderly couple with no employment could face a monthly shortfall of about 55,000 yen (about 500,000 won) if living only on pensions, leaving a gap of about 20 million yen (about 200 million won) over 30 years. It added that the figure was a rough estimate based on a hypothetical average household and that the shortfall could vary widely depending on factors such as region, housing type, and medical and care costs.

It said the report did not sufficiently reflect a loss of purchasing power due to inflation and a weaker yen. It explained that if inflation of about 2 to 3 percent a year continues for a long period, living costs would rise and the required funds could expand to about 40 million yen (about 370 million won). This was described as a backdrop to a weakening of the conventional belief that retirement funds can be built steadily month by month.

Critics also point to limits in traditional asset allocation. An analysis said portfolios made up of cash, stocks, bonds, foreign currency and gold could deliver weaker diversification effects during inflation and rising interest rates, increasing the risk of assets falling together. It also cited disadvantages including that cash-like assets lose real value, while gold does not provide interest income, making it hard to expect compounding effects.

In this context, bitcoin is being assessed as an alternative asset as "digital gold". It said that after U.S. approval of spot bitcoin exchange-traded funds in 2024, channels widened for pension funds and university endowments to invest indirectly, and asset managers increasingly viewed bitcoin as a tool for portfolio diversification.

It also introduced "crypto lending", a method of placing holdings for a set period and receiving interest. It said the approach can generate interest income without selling bitcoin and could be an option for long-term holders, but that investors need to fully check terms and risks because early termination can be restricted during the lending period or risks related to the operator (exchange) can arise.

Ultimately, the key lies in moving away from a savings-centered approach and designing an asset-protection strategy suited to an era of inflation, according to the analysis. Diversified investment and management methods including bitcoin could be one solution, but it said a cautious approach is needed that considers practical risks such as price volatility and service terms.