Metaplanet持有7,800 BTC，價值超過8億美元，在Bitcoin Holdings中排名第10

隨著日本應對使希臘在財政上負責的債務危機的努力，從東京金融區出現了一個不太可能的公司擁護者

In the heart of Tokyo's financial district, as Japan grapples with a debt crisis that threatens its economic stability and has left even Greece's fiscal status looking relatively tidy in comparison, an unlikely corporate champion is being forged.

在東京金融區的中心，隨著日本努力應對威脅其經濟穩定的債務危機，甚至還使希臘的財政狀況看起來相對整潔，因此，一個不太可能的公司擁護者正在偽造。

While most traders and investors might be focused on U.S. stocks and crypto, few are paying attention to what's unfolding in the Japanese markets, especially with regards to a company called Metaplanet (OTCMKTS:MPTNY).

儘管大多數交易商和投資者可能專注於美國股票和加密貨幣，但很少有人關注日本市場正在發生的事情，尤其是關於一家名為Metaplanet（OTCMKTS：MPTNY）的公司。

The company, originally a budget hotel operator, has transformed itself into not only Asia's most aggressive Bitcoin (BTC) accumulator but also Japan’s most shorted stock according to its CEO, setting up what could be a historic short squeeze while highlighting Bitcoin's role as a hedge against sovereign debt crises, a story that both crypto and traditional investors should pay more attention to.

該公司最初是一家廉價酒店運營商，不僅將自己變成了亞洲最具侵略性的比特幣（BTC）累加器，而且還將日本最短的股票變成了其首席執行官的說法，建立了歷史性的短暫擠壓，同時突出比特幣作為對黑gy的越野債務危機和傳統投資者的圍欄的角色，這是一個更加密碼和傳統投資者。

As traditional safe-haven assets like Japanese government bonds face unprecedented pressure, and with the country's debt-to-GDP ratio now worse than Greece's, it seems like an interesting time to be pivoting a company's treasury to Bitcoin.

由於日本政府債券（如日本政府債券）遇到了前所未有的壓力，並且隨著該國的債務與GDP比率現在比希臘的比率差，這似乎是一個有趣的時刻，它是將公司的財政部轉移到比特幣的時機。

The company's stock price has surged over 400% over the past year, reaching highs of 816 JPY on the Tokyo Stock Exchange and settling at $9.10 on the OTC markets as of the 4:00 PM EDT close on May 22, 2025.

在過去的一年中，該公司的股價飆升了400％以上，在東京證券交易所的最高點為816 JPY，截至2025年5月22日下午4:00下午4:00，OTC市場上的價格為9.10美元。

This astronomical rise in share value is directly linked to Metaplanet's unique strategy—a stark contrast to the common narrative in the West. As hedge funds and short sellers have placed massive bets against the company's Bitcoin-first treasury strategy, which began back in 2023, the company's year-to-date return now stands at 291.33%.

這種股票價值的天文學上升與Metaplanet的獨特策略直接相關，這與西方的共同敘述形成了鮮明的對比。由於對沖基金和賣空者已經針對該公司的比特幣優先國庫策略下注，該戰略始於2023年，該公司的年度回報率為291.33％。

For context, the Nikkei 225 has decreased by 4.97% year-to-date, highlighting how poorly traditional Japanese assets have performed in comparison to a company that's pivoting to Bitcoin.

在上下文中，Nikkei 225年至今已減少4.97％，強調了與一家旋轉比特幣的公司相比，日本傳統資產的性能較差。

This attention comes after the company's stock price was recently halted multiple times by the Tokyo Stock Exchange due to large trading volumes and price fluctuations, setting up the technical conditions that often precede massive short squeezes.

由於交易量較大和價格波動，該公司的股價最近被東京證券交易所多次停止了，這種關注是在該公司的股票價格最近暫停的，這是在大量短暫擠壓之前建立的技術條件。

The company's shares are now being shorted heavily by hedge funds, who are betting that the stock will go down. However, those who believe in the company's strategy—which has seen it accumulate 7,800 BTC to date—are placing bullish bets, leading to a fundamental disagreement about the company's value.

現在，對沖基金宣布該股票將下跌。但是，那些相信公司戰略的人（迄今為止它已經積累了7,800 BTC），他們押注了看漲的賭注，導致對公司價值的根本分歧。

This contrasts sharply with the story unfolding in the macroeconomic realm.

這與宏觀經濟領域中的故事形成鮮明對比。

With the yen hitting 140 to the dollar and 40-year bond yields surging to 3.7%, a full percentage point higher since early April, it seems like an interesting time for a company to be pivoting its treasury strategy.

日元達到140美元至美元，40年債券的收益率飆升至3.7％，自4月初以來的全部百分比更高，這對於一家公司來說，這似乎是一個有趣的時期。

Moreover, with bond auctions facing weaker-than-expected demand as investors remain skeptical of the government's fiscal trajectory, it appears that the company's treasury management strategy is outperforming that of the Japanese government, at least in the minds of some investors.

此外，由於投資者對政府的財政軌跡持懷疑態度，債券拍賣麵臨​​的需求較弱，看來該公司的國庫管理策略至少在某些投資者的看來都勝過日本政府的債券策略。

As the company continues to purchase bitcoins and report earnings, it will be interesting to see if investors begin rotating out of traditional yen-denominated assets and into bitcoin-exposed companies like Metaplanet.

隨著公司繼續購買比特幣並報告收益，很有趣的是，看看投資者是否開始從傳統的日元計時資產中旋轉，並進入像Metaplanet這樣的比特幣暴露公司。

The company's stock is also being traded on OTC Markets in the U.S., making it accessible to a wider range of global investors.

該公司的股票也在美國的OTC市場上進行交易，使得全球投資者可以使用。

But what exactly is the company doing, and what makes its story so unique?

但是，公司到底在做什麼，什麼使其故事如此獨特？

Metaplanet's Bitcoin Strategy Is Unfolding Amid Japan's Fiscal Crisis

在日本的財政危機中，Metaplanet的比特幣策略正在展開

At the core of Metaplanet's narrative lies a simple yet profound truth: in a world facing sovereign debt crises, especially in a country like Japan, which is now reporting a debt-to-GDP ratio of 235% (compared to Greece's 142%), traditional fiat currency and government bonds might not offer the same safe haven they once did.

Metaplanet敘事的核心是一個簡單而深刻的事實：在一個面臨主權債務危機的世界中，尤其是在像日本這樣的國家，現在報告的債務與GDP比率為235％（與希臘的142％相比）（與希臘的142％相比）（傳統的菲亞特貨幣和政府債券可能無法提供相同的避風港。

This is where Metaplanet, a company that's pivoting its treasury to Bitcoin, comes into play.

這是一家旋轉國庫到比特幣的公司Metaplanet的起源。

The company, which used to be a budget hotel operator with 17 employees, has become an unlikely hero in the minds of many traders and investors.

該公司曾經是擁有17名員工的預算酒店運營商，在許多交易員和投資者的腦海中已成為英雄。

The company's shares, which are traded on the Tokyo Stock Exchange, have skyrocketed over 400% over the past year, reaching highs of 816 JPY. As of the 4:00 PM EDT close on May 22, 2025, the stock price has settled at $9.10 on the OTC markets.

該公司在東京證券交易所交易的股票在過去一年中飆升了400％以上，高達816 JPY。截至2025年5月22日，美國東部時間關閉的下午4:00關閉，股價在OTC市場上定價為9.10美元。

This astronomical rise in share value is directly linked to Metaplanet's unique strategy—a stark contrast to the common narrative in the West.

這種股票價值的天文學上升與Metaplanet的獨特策略直接相關，這與西方的共同敘述形成了鮮明的對比。

While U.S. hedge funds and short sellers have placed massive bets against the company's Bitcoin

而美國對沖基金和賣空者已經對公司的比特幣下注