Metaplanet’s boss adamantly opposed this week, saying critics on social media bought the story incorrect about massive Bitcoin buys, choices bets and borrowings which have shaken some buyers.
Simon Gerovich stated the corporate made every buy public and that its personal reside dashboard and out of doors trackers confirmed the strikes.
Reviews say the agency purchased blocks of Bitcoin in September 2025 and that these trades present up on public trackers. One such tracker, Bitcointreasuries.internet, lists the purchases alongside the corporate’s statements.
What Was Disclosed
In line with the CEO, each main acquisition and choices commerce was flagged in actual time. He known as out nameless accounts for studying filings the incorrect approach and for treating bookkeeping adjustments like makes an attempt at concealment.
匿名アカウントの裏に隠れて、何の責任も負うことなく他者を非難し、炎上させることは簡単です。しかし、私は自らの発言とメタプラネットの行動すべてに対して公の場で責任を負うことに何の抵抗もありません。そのため、寄せられている各主張に対して、直接お答えします。… https://t.co/e0ieMGq29N
— Simon Gerovich (@gerovich) February 20, 2026
Whether or not that calms critics is determined by what buyers anticipate from an organization whose stability sheet is generally Bitcoin. Many will settle for cautious disclosure; others need additional readability when buys occur close to worth peaks.
Promoting places and constructing choice spreads was defended as a option to decide up Bitcoin cheaper over time and to create regular choice earnings. That’s a method some companies use: you receives a commission for taking up the duty to purchase at sure costs.
However it will probably result in outsized paper losses when the market turns sharply. Some buyers hear “earnings technique.” Others hear “long-dated threat.”
メタプラネットはどうやって株主からお金を巻き上げようとしか考えてない会社です🤮
必要な情報を株主に開示しません。まず一番不誠実なのがBTC買ってもすぐに発表しません（株主の金で買っておいて😓）… https://t.co/KEYOXsTzui pic.twitter.com/dHK2KSRj52
— 意地悪な暴言のカワウソ (@tenb1) February 18, 2026
How Losses Had been Measured
Reviews observe the corporate booked sturdy working figures tied to choices income, but it nonetheless posted a heavy internet loss as a result of Bitcoin’s market worth fell.
Metaplanet reported fiscal 2025 income of ¥8.9 billion (about $58 million) whereas posting a internet lack of roughly $680 million, reflecting mark-to-market accounting on its Bitcoin holdings.
*Metaplanet Acquires Further 1,009 $BTC, Complete Holdings Attain 20,000 BTC* pic.twitter.com/kwvUkQaFth
— Metaplanet Inc. (@Metaplanet) September 1, 2025
The accounting strategy implies that whereas money generated from buying and selling and choices exercise elevated, the reported internet earnings appeared adverse on account of declines within the worth of Bitcoin on the stability sheet.
These accounting guidelines can lead to giant, non-cash losses for firms holding Bitcoin throughout market downturns. Traders and collectors usually think about these figures when evaluating the corporate’s monetary place and threat publicity.
Borrowings And Counterparty Particulars
Gerovich confirmed a credit score line was arrange and that drawdowns had been disclosed in later filings, however he additionally stated the lender requested that its identify and actual charges be saved non-public.
That sort of confidentiality is frequent in finance, but when risky property again loans, the shortage of full element raises concern.
Reviews say the construction was favorable, in line with the corporate, however critics warn that opaque phrases can conceal potential triggers for pressured asset gross sales.
Featured picture from Pexels, chart from TradingView
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