#strategybtcpurchase Simon Gerovich defends disclosure standards, options trading model, and hotel operations.
✨What to know:
Simon Gerovich defended Metaplanet’s transparency, options based Bitcoin strategy, and accounting approach.
Gerovich said all Bitcoin purchases were disclosed in a timely manner, and maintained that criticism based on unrealized losses or market timing reflects a misreading of the company’s long term strategy.
Simon Gerovich, CEO of Metaplanet (3350), has responded to online criticism of the Tokyo-listed bitcoin treasury company, as bitcoin is down almost 50% from its October all-time high and now trading near $67,000, while Metaplanet shares have fallen roughly 85% from their 2025 all-time high.
Addressing anonymous critics, Gerovich said, "It's easy to hide behind anonymous accounts, criticize others, and incite outrage without taking any responsibility." Gerovich added, "I have no qualms about taking public responsibility for all my statements and Metaplanet's actions."
Metaplanet uses options, specifically selling put options and put spreads, to generate premium income and potentially acquire bitcoin below the prevailing market price.
Defending this approach, Gerovich said, "Selling put options is not a bet on bitcoin's price rising."
Gerovich explained that the strategy is designed to lower the company’s effective purchase cost and monetise volatility.
On transparency, Gerovich said, "we are one of the most transparent listed companies in the world." Gerovich pointed to real-time wallet disclosure and repeated announcements of purchases, including those made in September.
Gerovich also acknowledged market timing concerns, he said, "September marked a local peak. I have no intention of denying that." Gerovich stressed that the strategy is systematic accumulation, not short-term trading.
Lastly, Gerovich responded to criticism of financial results, saying, "Net profit is not an appropriate metric for evaluating a bitcoin treasury company." Gerovich also rejected claims about the hotel division, stating the business is not in ruins and highlighting its profitability.
Metaplanet shares trade at 307 yen, while the company holds 35,102 BTC.
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