#比特币储备战略 Recently, I observed a very interesting phenomenon—Metaplanet has gained a unique advantage in the Bitcoin reserve competition through the structural depreciation of the Japanese Yen. This made me realize that the Bitcoin reserve strategy is far more complex and fascinating than it appears on the surface.

Simply put, Japan's debt-to-GDP ratio is as high as 250%, leading to a long-term weakening of the Yen. From 2020 to now, Bitcoin has increased by 1159% against the US dollar, but by 1704% against the Yen! What does this mean? Metaplanet borrows money in Yen, and when measured in Bitcoin, the cost of borrowing is actually shrinking. Their 4.9% interest rate seems fixed, but when measured in Bitcoin, the actual cost is decreasing year by year—it's as if time is helping them pay off their debt.

Currently, Metaplanet has become the fourth-largest Bitcoin treasury company globally, holding over 35,000 BTC. This is not just about accumulating digital assets; it’s demonstrating a principle: in the right macro environment, decentralized assets can redefine the way wealth is accumulated.

This case clearly shows that future wealth competition is no longer a zero-sum game of traditional finance, but about who can better understand and utilize the value of decentralized assets. As a global asset, Bitcoin is changing the financial decision-making logic of enterprises and individuals worldwide.