Metaplanet CEO Defends Disclosure Practices Amid Bitcoin Strategy Criticism

TheNewsCryptoPublicado a 2026-02-20Actualizado a 2026-02-20

Resumen

Metaplanet CEO Simon Gerovich defended the company's disclosure practices and Bitcoin strategy against recent criticism. He emphasized full transparency, noting that all Bitcoin holdings are publicly verifiable via a real-time dashboard. Gerovich confirmed that the company made four Bitcoin purchases in September—each publicly announced—as part of a long-term accumulation strategy, not market timing. He also addressed options trading, explaining that selling puts is used to lower acquisition costs, not for speculation. The company reported strong operational income growth despite accounting losses from Bitcoin's price volatility. Gerovich, a major shareholder, reaffirmed commitment to the stated strategy amid stock price declines.

Metaplanet CEO Simon Gerovich responded to criticism about disclosure practices, Bitcoin purchases, options trading, and financial reporting transparency. He said that it is easy to criticize without accountability, but he takes responsibility for all his public actions. Gerovich also denied accusations that the company’s disclosures were misleading, saying that such accusations were inflammatory and untrue. The company had to allocate more capital to income operations due to the volatility of the past six months.

Metaplanet publicly discloses all Bitcoin addresses, allowing shareholders to check their holdings in real-time through a dashboard. Gerovich said that this makes Metaplanet one of the most transparent publicly traded companies in the world. On the issue of purchases in September, it was alleged that the company bought at market peaks without notice.

Gerovich responded that Metaplanet made four purchases of Bitcoin in September, and each time they announced the purchase. He agreed that September marked the top of the local market but again stated that timing markets is not a strategy. The company uses a long-term strategy of systematic accumulation of Bitcoins irrespective of market prices. Gerovich pointed out that the company makes consistent announcements for all purchases of Bitcoin.

Options Strategy, Financial Reporting, and Transparency of Borrowing

Gerovich clarified that selling put options does not amount to speculating on the rising price of Bitcoin. Rather, the company utilizes options to buy Bitcoin at a cost lower than buying it outright. He clarified that selling an eighty-thousand-dollar put with a ten-thousand-dollar premium reduces the cost.

The company took advantage of Bitcoin’s volatility to significantly lower the cost of acquisition in the fourth quarter. Gerovich explained that net income is not a good measure of performance for Bitcoin treasury firms. Operating income of 6.2 billion yen was recorded, showing a year-over-year surge of 1,694 percent. The recurring loss was solely due to the change in the value of long-term Bitcoins. The firm does not plan to sell the Bitcoins, he clarified.

Capital, Alignment of Shareholders, and Business Performance

Gerovich reiterated that he is a major shareholder and feels the impact of stock price fluctuations. He clarified that the funds have been raised strictly in line with the announced strategy and plans. The stock price of Metaplanet has dropped by 23%, while that of Bitcoin has fallen by 24% this year. The hotel operation segment reported revenue of 437 million yen and operating profit of 169 million yen in FY2025.

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Preguntas relacionadas

QWhat did Metaplanet CEO Simon Gerovich say in response to criticism about the company's disclosure practices and Bitcoin purchases?

ASimon Gerovich defended the company's disclosure practices, stating that all public actions are his responsibility and that accusations of misleading disclosures were inflammatory and untrue. He emphasized that Metaplanet publicly discloses all Bitcoin purchases and addresses, making it one of the most transparent publicly traded companies.

QHow does Metaplanet's strategy for acquiring Bitcoin work, according to Gerovich?

AMetaplanet employs a long-term strategy of systematic Bitcoin accumulation regardless of market prices. The company does not attempt to time the market and makes consistent announcements for all purchases. Additionally, they use options strategies, like selling puts, to acquire Bitcoin at a lower cost than buying it outright.

QWhat reason did Gerovich give for the company's reported recurring loss, and what was the performance of its operating income?

AGerovich clarified that the recurring loss was solely due to the change in the value of its long-term Bitcoin holdings. He stated that net income is not a good performance measure for a Bitcoin treasury firm and highlighted that the company's operating income was 6.2 billion yen, a year-over-year surge of 1,694%.

QHow transparent is Metaplanet regarding its Bitcoin holdings, and what tool do shareholders have?

AMetaplanet provides full transparency by publicly disclosing all of its Bitcoin addresses. This allows shareholders to check the company's holdings in real-time through a dedicated dashboard.

QWhat was the performance of Metaplanet's stock price and its hotel business in the reported period?

AMetaplanet's stock price has dropped by 23% this year, closely tracking Bitcoin's 24% decline. Meanwhile, its hotel operation segment reported revenue of 437 million yen and an operating profit of 169 million yen for FY2025.

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