Metaplanet’s Defense Against Accusations
Simon Gerovich, the CEO of Metaplanet, has publicly defended his company against accusations of being opaque regarding its Bitcoin investment strategy. The criticisms surfaced on the platform X, where an anonymous post suggested that Metaplanet was concealing losses and making risky Bitcoin purchases at high market prices using funds from its shareholders.
In his comprehensive response, Gerovich denied these assertions, labeling them as unfounded and failing to consider the information that is available to investors.
Transparency in Bitcoin Purchases
Gerovich highlighted that Metaplanet has always made its Bitcoin purchases public upon completion, and emphasized the existence of a real-time dashboard that reveals the company’s Bitcoin wallet addresses and holdings. He pointed out that four significant Bitcoin purchases made in September were disclosed promptly, even when they occurred at local price peaks. According to him, the company prioritizes long-term asset accumulation over short-term market timing strategies.
Options Trading Strategy
The CEO also articulated Metaplanet’s approach to options trading, where selling put options is used as a tactic to decrease Bitcoin acquisition costs. For instance, if a put option is sold at $80,000 with a $10,000 premium, it effectively lowers the purchase price to $70,000. He asserted that this investment strategy had significantly boosted Bitcoin per share by over 500% in 2025, serving as a crucial performance metric for the company.
Financial Health and Borrowing Practices
Addressing concerns about the accuracy of financial statements, Gerovich explained that the net profit figures do not fully represent the health of a Bitcoin-focused treasury business due to unrealized valuation shifts. He instead pointed to increasing operating profits year-on-year as an indicator of positive business performance, noting that any losses were primarily related to accounting adjustments on long-held Bitcoin assets not intended for sale.
Regarding the company’s borrowing practices, he confirmed that details about the credit facility, including drawdowns and collateral agreements, were disclosed appropriately. However, specifics about lenders and interest rates were withheld as per their request, though he assured that the terms were favorable and adhered to disclosure guidelines.
Commitment to Transparency
In response to claims that Metaplanet is entirely reliant on shareholder funding, Gerovich clarified that he himself is a significant investor and has contributed personal financial resources to the enterprise. He also referenced the success of the hotel segment, which showed strong revenue and profit in 2025, as evidence of the company’s operational prowess beyond cryptocurrency ventures.
Concluding his statement, Gerovich expressed his willingness to address any further inquiries from investors and committed to maintaining transparency through regular updates on Metaplanet’s progress and activities.
