Metaplanet CEO Simon Gerovich has responded to fresh criticism surrounding the firm’s aggressive Bitcoin approach, rejecting claims that the company has concealed losses or failed to properly inform shareholders.
An anonymous online post accused Metaplanet of poor disclosure practices, questionable options trading, and withholding key financial details tied to its growing Bitcoin position. The criticism gained traction as the company reaffirmed its commitment to continue stacking BTC despite market volatility.
Gerovich dismissed the allegations as unfounded, arguing that the company has been transparent from the start.
“The claim that our disclosures are insincere is inflammatory and contrary to the facts. Over the past six months, with volatility having risen significantly, we have allocated more capital to our income business and capitalized on that volatility by selling puts and put spreads. These funds are being actively managed as option positions…All of our Bitcoin addresses are publicly available, and through our live dashboard, shareholders can check our holdings in real time.”
He also clarified that every Bitcoin purchase, including multiple acquisitions made last September, was disclosed immediately. According to Gerovich, the strategy is simple: accumulate Bitcoin methodically and think long term, regardless of short-term price swings.
On the derivatives side, he explained that selling put options allows Metaplanet to collect premiums upfront, effectively lowering the average cost of acquiring BTC. The company claims this structure significantly boosted its Bitcoin-per-share metric in 2025.
As for the company’s reported $679 impairment tied to price fluctuations, Gerovich noted that headline profit figures can distort reality for a Bitcoin treasury-focused firm, since they reflect unrealized gains and losses driven purely by market volatility, not operational weakness.
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