Metaplanet is outpacing U.S. Bitcoin treasure holders in a way many overlook. Here's why: Japan's yen keeps weakening, and that's actually working in Metaplanet's favor. Their 4.9% debt becomes cheaper in real terms as the currency depreciates relative to both BTC and USD. While American corporate bitcoin holders face steady dollar costs, Metaplanet benefits from currency tailwinds that naturally erode their nominal debt burden. It's a quirk of the current macro environment—same Bitcoin strategy, but the math plays out differently depending on where you're holding.