Metaplanet gains edge as weak yen boosts Bitcoin treasury returns

The momentum of Metaplanet will be coins by the weak yen of Japan, enhancing the actual performance of its proposed strategy of treasury in Bitcoin

ContentsWeak yen supports balance sheet advantagesBitcoin holdings expand amid market pressureCapital structure changes target institutionsThe currency trend reduces the cost of effective debt and increases returns associated with Bitcoin expansion.

Weak yen supports balance sheet advantages

Metaplanet is a positive company because it is operating in a weakening currency environment, as the yen is being devalued. The analysts attribute the trend to the increasing debt of Japan, which is close to 250% of GDP.

The government has to print new money annually to fund the fiscal deficits. This pressure has decreased the purchasing power of the yen over the years. Adam Livingston, a Bitcoin analyst and investor, claimed that this climate suit targets Bitcoin treasury companies based on yen.

According to Livingston, Bitcoin has increased by approximately 1,159.40% since 2020 in US dollars. Bitcoin gains about 1,704%, in the case of a measurement against the yen.

The presence of this gap describes the effect of currency weakness on Bitcoin returns. The liabilities of Metaplanet are expressed in the devaluing currency, which reduces their actual weight as time passes.

The company is also servicing its debt in payment in yen. It is a -4.9 real coupon as the Bitcoin and dollar enhance.

In comparison, Strategy has a coupon payable of 10% in US dollars. The overvalued currency retards the decrease in the real liabilities.

Bitcoin holdings expand amid market pressure

According to Bitcoin Treasuries, the Metaplanet has the amount of 35,102 BTC in the treasuries. This makes the company the fourth-largest corporate holder of Bitcoin in the world.

Recently, the company acquired approximately 4,279 BTC in its balance sheet. The price of purchase was approximately 451 million, and it enhanced its long-term exposure.

Although the acquisition took place, the stock price of Metaplanet went down following the announcement. Cryptocurrencies overall had severe losses around the same time.

A number of companies within the industry have fallen by over 90% of their peak valuations. The decline came after a general crash of the crypto market in October of 2025.

Since the correction, Bitcoin prices have not managed to stay on course to reach previous heights. This has a burdened mood in the listed treasury companies.

Capital structure changes target institutions

Metaplanet changed its capital structure in December 2025. The firm came up with preferred shares that pay dividends to attract institutional investors.

Dylan LeClair, who is the director of Bitcoin strategy, indicated that shareholders resolved five related proposals. These reforms enlarged dividend choices and enhanced the availability of international capital.

Capital reserves were also reclassified at the firm. The adjustment facilitates paying dividends and has the potential repurchases of shares.

The actions will enhance the flexibility of funds and not eliminate the exposure to Bitcoin. They also make the company in line with the institutional investment standards.

The approach of Metaplanet indicates a generalization of the trend in Bitcoin treasury companies. The currency dynamics have become bigger determinants of balance sheet performance.