Metaplanet CEO Simon Gerovich has pushed again in opposition to accusations from what he described as “nameless accounts” claiming the corporate misled traders about its bitcoin technique and disclosures.
Critics on X alleged Metaplanet delayed price-sensitive details about giant bitcoin purchases and choices trades, obscured derivatives losses, and failed to totally disclose key phrases of its BTC-backed borrowings.
September buys and disclosures
In an X submit on Friday, Gerovich mentioned Metaplanet promptly reported all bitcoin purchases, possibility methods, and borrowings, arguing critics have been misreading monetary statements moderately than uncovering misconduct.
He mentioned the corporate made 4 bitcoin purchases in September 2025 and “promptly introduced” each.
Metaplanet’s dashboard exhibits purchases of 1,009 BTC on Sept. 1, 136 BTC on Sept. 8, 5,419 BTC on Sept. 22, and 5,268 BTC on Sept. 30.
These holdings are additionally tracked on the Metaplanet treasury web page.
Choices technique and accounting dispute
Gerovich mentioned promoting put choices and put spreads was supposed to amass BTC beneath spot and monetize volatility, to not gamble on short-term worth strikes.
He additionally disputed utilizing web revenue as the principle yardstick for a bitcoin treasury firm.
Metaplanet reported fiscal 2025 income of 8.9 billion yen (about $58 million), up roughly 738% year-on-year, whereas reserving a web lack of about $680 million tied to a pointy decline within the worth of its bitcoin holdings.
Credit score facility disclosures
Gerovich mentioned Metaplanet established a credit score facility in October 2025 and disclosed subsequent drawdowns in November and December, together with borrowing quantities, collateral, construction, and broad curiosity phrases.
He mentioned the lender’s identification and precise charges have been withheld on the counterparty’s request.
Wider scrutiny of bitcoin treasuries
Gerovich’s feedback come as different bitcoin treasury companies face scrutiny.
Technique, the biggest company BTC holder, reported a $12.4 billion web loss in This fall 2025 as bitcoin fell round 22% over the interval.