Yen Weakness Shapes Metaplanet's Bitcoin Treasury Play and Debt Dynamics

On 5 January 2026, Japan-based Metaplanet's Bitcoin treasury strategy was analyzed as being closely linked to the structural weakness of the yen. By borrowing and servicing debt in a depreciating currency while holding Bitcoin, the firm may see its liabilities shrink in real terms and its BTC-denominated assets grow faster than those of U.S. peers. The company reportedly holds 35,102 BTC and recently executed a single purchase of over 4,000 BTC worth about $451 million.