Metaplanet CEO Rebuts Claims of Misleading Bitcoin Investment Disclosures

Metaplanet CEO Simon Gerovich has defended his company's transparency following accusations from critics on social media that the firm misled investors regarding its Bitcoin acquisition strategy and financial reporting.

In a detailed response posted Friday, Gerovich addressed claims that the company delayed disclosing price-sensitive information about major Bitcoin purchases, concealed losses from derivatives activities, and failed to provide complete details on BTC-backed loans. He maintained that all transactions were promptly reported and that critics misinterpreted the company's financial statements rather than uncovering actual wrongdoing.

The CEO pointed to four September 2025 Bitcoin purchases totaling over 11,800 BTC, all publicly announced and visible on the company's real-time dashboard and third-party tracking sites. He emphasized that Metaplanet's options strategies were designed to acquire Bitcoin below market prices and generate returns from volatility, not speculative gambling.

Regarding performance metrics, Gerovich argued that net profit is inappropriate for evaluating a Bitcoin treasury company, highlighting instead that fiscal 2025 revenue surged approximately 738% year-over-year to roughly $58 million, despite a net loss of about $680 million driven by Bitcoin's price decline.

The defense comes amid broader scrutiny of corporate Bitcoin treasury models, with Strategy reporting a $12.4 billion fourth-quarter loss as Bitcoin dropped 22% during that period.