‘We will never sell’: Metaplanet stands firm as Bitcoin losses top $1.2B

ambcryptoОпубликовано 2026-02-20Обновлено 2026-02-20

Введение

Metaplanet, a Japan-based Bitcoin treasury firm, has seen its holdings of 35,012 BTC incur over $1.2 billion in unrealized losses amid the market downturn. Despite the significant paper loss, CEO Simon Gerovich firmly stated the company will never sell its Bitcoin, emphasizing a strategy focused on accumulation and increasing Bitcoin per share. He expressed cautious optimism that Bitcoin may have found a floor around $60,000, though he acknowledged market uncertainty. In the short term, demand for put options indicates some traders are betting on further downside, targeting $58K or lower. However, whale accumulation of 200,000 BTC in the past month may help stabilize prices, though a sustained recovery likely requires increased retail demand rather than leveraged trading.

Simon Gerovich, the CEO of Japan-based Bitcoin treasury firm Metaplanet, has acknowledged that the ongoing crypto rout has been painful.

In late 2025, the firm’s stash (35,012 BTC) saw a paper loss of $619 million following the BTC price crash. The unrealized loss has now doubled to over $1.2 billion as of February.

However, Gerovich assured that the firm has no plan to offload its stash if the crypto winter deepens, adding that,

“Our strategy remains unchanged. We exist to accumulate Bitcoin and grow Bitcoin per share, which we increased by over 500% in 2025. We will never sell our Bitcoin.”

On Bitcoin’s next direction, Gerovich, like Fidelity and most analysts, was cautiously optimistic of a potential market bottom around $60K.

“I personally believe Bitcoin may have found a floor around $60,000, though I hold that view with humility. Nobody knows.”

But he maintained that BTC will likely print a new all-time high and slammed critics of Bitcoin treasury firms.

Bitcoin sees spike in downside bets

In the short term, however, demand for downside protection remained strong, with some eyeing a potential BTC price dip below $60K.

According to the Options tracking platform, Laevitas, there was a surge in bearish bets, eyeing $58K and $55K in late February and March.

“Downside protection remains in demand. Over the past few hours: 1864 BTC $58K puts bought for 27FEB26 ($687.72k), 276 BTC $58K puts bought for 6MAR26 ($205.14K). Also, 600 BTC $55K puts bought for 27MAR26 ($551.18K) on Feb 17.”

The above positioning was interesting because the broader put/call ratios were still constructive and leaned bullish.

This underscored that, despite the potential for a rebound, big players remained cautious that another leg down could occur before a true market bottom is formed.

Even so, Bitfinex analysts noted that whales have scooped up 200,000 BTC in the past 30 days. According to them, the ongoing whale accumulation reinforced their price-range outlook, adding to that,

“That can stabilise price, but upside is usually slower and range-bound until retail spot demand increases. Confirmation is spot-led continuation, not leverage-led spikes.”

Final Summary

Metaplanet CEO was cautiously optimistic that BTC could bottom out above $60K, adding that the Bitcoin treasury firm won’t sell its BTC holdings.
Whales scooped 200K BTC and could drive the sideways structure above $60K, but there was increasing demand for downside protection.

Связанные с этим вопросы

QWhat is Metaplanet's current strategy regarding its Bitcoin holdings despite the unrealized losses?

AMetaplanet's strategy remains unchanged; they exist to accumulate Bitcoin and grow Bitcoin per share, and they will never sell their Bitcoin.

QHow much has Metaplanet's unrealized loss on its Bitcoin investment grown as of February?

AMetaplanet's unrealized loss on its 35,012 BTC has doubled to over $1.2 billion as of February.

QAccording to the CEO, what price level does he believe may be a potential floor for Bitcoin?

AThe CEO believes Bitcoin may have found a floor around $60,000, though he holds that view with humility.

QWhat does the surge in bearish bets, as reported by Laevitas, indicate about market sentiment?

AThe surge in bearish bets, such as puts targeting $58K and $55K, indicates strong demand for downside protection and caution among some big players that another price decline could occur before a true market bottom is formed.

QHow much Bitcoin have whales accumulated in the past 30 days, and what is the expected impact on price according to Bitfinex analysts?

AWhales have accumulated 200,000 BTC in the past 30 days, which Bitfinex analysts say can stabilize the price, but upside movement is expected to be slower and range-bound until retail spot demand increases.

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