Metaplanet, known for its strategy of buying large amounts of Bitcoin, has officially denied some allegations against the company.
Simon Gerovich, CEO of Japan-based Bitcoin treasury company Metaplanet, responded to allegations that the company was “not honest” in its disclosures.
Following allegations made by an anonymous account, Gerovich defended himself by stating that all Bitcoin purchases are immediately publicized and that all BTC addresses owned by the company are publicly accessible.
In his statement, Gerovich said that he and Metaplanet fully accept responsibility for their words and actions, and that the company’s long-term and systematic Bitcoin accumulation strategy remains unchanged. Noting the increased market volatility over the past six months, the CEO stated that Metaplanet is placing greater emphasis on revenue-generating business lines, earning premium income from put options and spread strategies, and allocating a portion of this income to long-term Bitcoin assets.
Gerovich, specifically addressing allegations of “secret buying at the September peak,” stated that all four separate Bitcoin purchases made in September of last year were promptly announced to the public. He emphasized that the company’s strategy is not based on market timing, but rather adopts a long-term and systematic approach to Bitcoin accumulation.
Gerovich stated that selling put options is not merely a prediction of price increases, arguing that this method allows Bitcoin to be acquired at an effective cost below its spot price.
The CEO stated that the periodic losses seen in the company’s financials were largely due to unrealized, fair value fluctuations in long-term Bitcoin assets that were not planned for sale. He added that it would be incorrect to interpret this as a strategic failure.
Metaplanet management reiterated that all Bitcoin purchases are announced the moment the decision is made, that all of the company’s Bitcoin addresses are publicly shared, and that shareholders can track their assets via a real-time dashboard.
