Japanese Bitcoin treasury firm Metaplanet is reportedly gaining a competitive advantage over its U.S. counterparts, according to crypto analyst Adam Livingston. Japan's debt-to-GDP ratio stands at approximately 250%, leading to a long-term depreciation of the yen due to deficit financing. This depreciation effectively reduces the real cost of Metaplanet's yen-denominated liabilities, with its 4.9% coupon debt decreasing in Bitcoin terms. Since 2020, Bitcoin has surged approximately 1,159% against the U.S. dollar and 1,704% against the yen. Metaplanet currently holds about 35,102 BTC, making it the fourth-largest Bitcoin reserve company globally. Recently, the firm increased its holdings by 4,279 BTC, valued at approximately $451 million.