Metaplanet CEO Simon Gerovich has refuted accusations from individuals often called “nameless accounts” that the corporate misled buyers about its Bitcoin technique and disclosures.
Critics of X claimed Metaplanet delayed or withheld price-sensitive info relating to large-scale Bitcoin (BTC) purchases and choice trades funded with shareholder fairness, hid losses from spinoff methods, and failed to totally disclose the fabric phrases of BTC-backed borrowings.
With detailed X post Gerovich argued Friday that Metaplanet instantly reviews all Bitcoin purchases, choice methods and borrowings, and that critics are misreading monetary statements fairly than exposing wrongdoing.
September acquisitions and disclosures
Gerovich mentioned Metaplanet made 4 Bitcoin purchases in September 2025 and “promptly introduced” each, denying claims that the corporate made secret Bitcoin purchases with out disclosing them.
Associated: Metaplanet sticks to Bitcoin buy plan as crypto sentiment hits 2022 lows
Metaplanet’s real-time public dashboard helps the acquisition. showing I purchased 1,009BTC on September 1st, 136BTC on September eighth, 5,419BTC on September twenty second, and 5,268BTC on September thirtieth, 2025.
Buy particulars may even be mirrored within the public tracker Bitcointresuries.netalong with the publication and/or monetary statements.
Gerovich additionally emphasised that promoting put choices and put spreads is designed to accumulate below-spot Bitcoin and monetize volatility for shareholders, fairly than betting on short-term worth actions.
Measuring efficiency with numerous metrics
Metaplanet’s CEO additionally disputed the usage of internet earnings as a metric for Bitcoin treasury corporations, citing as an alternative the sharp rise in income and working earnings from Bitcoin-related actions, notably choice earnings.
Metaplanet on Monday reported fiscal 12 months 2025 gross sales of 8.9 billion yen (roughly $58 million), a rise of about 738% from the earlier 12 months, regardless of posting a internet lack of about $680 million as a result of sharp decline within the worth of its Bitcoin holdings.
Gerovich mentioned treating these non-cash losses as proof of strategic failure misunderstands asset accounting.
Associated: Metaplanet begins US buying and selling with Deutsche Financial institution underneath MPJPY
He famous that Metaplanet established the credit score facility in October 2025 and disclosed info in November and December relating to the following mortgage quantity, mortgage quantity, collateral, construction and in depth curiosity phrases, all of which will be considered on Metaplanet’s website. disclosure web page.
Gerovich mentioned the lender’s identification and precise rate of interest have been withheld on the request of his counterparty.
Lastly, he argued that the borrowing phrases are favorable for Metaplanet and that the corporate’s steadiness sheet stays robust regardless of the autumn in Bitcoin.
Backlash towards BTC Treasury play grows
Gerovich’s protection comes as different publicly traded Bitcoin authorities bond companies face scrutiny over the sustainability and dangers of their Bitcoin-focused authorities bond fashions.
Technique, the biggest company holder of BTC, reported a internet lack of $12.4 billion within the fourth quarter of 2025 as Bitcoin fell 22% over the identical interval, though the corporate emphasised a “stronger and extra resilient” capital construction and the “indefinite” tenor of Bitcoin.
Cointelegraph reached out to Metaplanet for added remark, however didn’t obtain a response in time for publication.
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