Unveiling Metaplanet’s Bitcoin Strategy
Our editorial team, comprised of industry veterans and expert editors, is committed to providing trustworthy and thoroughly vetted content. Please note that this article may contain affiliate disclosures.
Metaplanet’s Strategic Bitcoin Purchases Explained
Simon Gerovich, the CEO of Metaplanet, recently addressed criticisms circulating on social media regarding the company’s substantial Bitcoin acquisitions and related financial maneuvers. He emphasized that the company has been transparent with each transaction, as confirmed by both their live dashboard and external trackers.
Advertisement Banner
In September 2025, Metaplanet was reported to have bought substantial Bitcoin holdings, as documented by public tracking platforms like Bitcointreasuries.net. These records corroborate the company’s official statements.
Transparency in Financial Disclosures
Gerovich underscored that all major acquisitions and options trades were reported in real-time. He criticized anonymous social media accounts for misinterpreting financial filings and for suggesting that bookkeeping updates were attempts at obfuscation.
“Hiding behind anonymous accounts makes it easy to criticize and incite controversy without accountability. However, I stand by every action taken by Metaplanet and am prepared to address each claim publicly.” — Simon Gerovich
Whether these clarifications will pacify critics depends largely on investor expectations from a company whose balance sheet is heavily invested in Bitcoin. Some investors are satisfied with thorough disclosure, while others demand additional transparency, particularly when acquisitions occur near market highs.
Investment Strategies and Market Risks
Metaplanet defended its strategy of selling puts and constructing option spreads as a means to acquire Bitcoin at lower prices over time and generate consistent income from options. This approach, while common, can result in significant paper losses during volatile market conditions. Investors perceive this strategy in different lights, with some seeing it as a reliable income strategy and others viewing it as a long-term risk.
Financial Performance and Market Volatility
Despite reporting robust operating figures linked to options revenue, Metaplanet posted a substantial net loss due to the decline in Bitcoin’s market value. The fiscal 2025 report showed revenue of ¥8.9 billion (approximately $58 million), juxtaposed with a net loss of around $680 million, attributed to the mark-to-market accounting of its Bitcoin holdings.
This accounting practice can lead to significant non-cash losses during market downturns, affecting how investors and creditors assess the company’s financial health and risk exposure.
Details on Borrowings and Financial Partnerships
Gerovich confirmed that the company had established a credit line, with drawdowns disclosed in subsequent filings. However, the lender requested anonymity regarding its identity and interest rates, a common practice in financial dealings. Nonetheless, when loans are backed by volatile assets, the lack of full disclosure can cause concern among stakeholders.
While the company claims that the loan structure was advantageous, critics caution that undisclosed terms could trigger forced asset sales under certain conditions.
The Editorial Process at Bitcoinist
At Bitcoinist, we prioritize delivering thoroughly researched, accurate, and impartial content. Our editorial process involves stringent sourcing standards and review by top technology experts and seasoned editors, ensuring our content’s integrity, relevance, and value for our readers.
