Metaplanet CEO Addresses Allegations of Dishonest Information Disclosure

Metaplanet CEO Simon Gerovich has responded to accusations from an anonymous account on the X platform, which claimed the company was dishonest in its information disclosure. According to ChainCatcher, Gerovich refuted these claims, stating that both he and the company are willing to take public responsibility for their actions. He emphasized that Metaplanet's strategy of systematically increasing its Bitcoin holdings remains unchanged. Gerovich explained that over the past six months, amid rising volatility, the company has increased its allocation to yield-generating businesses. This was achieved by selling put options and using spread strategies to earn premiums, with some funds directed towards long-term Bitcoin holdings. He assured that all Bitcoin purchases are disclosed immediately after decisions are made, and the company's Bitcoin addresses are publicly available. Shareholders can view holdings through a real-time dashboard. Addressing allegations of undisclosed high-level purchases in September, Gerovich clarified that four Bitcoin acquisitions were made during that month, all of which were promptly announced. He stressed that the company's strategy is not based on timing the market but on a long-term, systematic accumulation of Bitcoin. Selling put options is not merely a bet on price increases but a method to acquire Bitcoin at an effective cost below the spot price. Gerovich also noted that recurring losses are primarily due to the unrealized fair value fluctuations of Bitcoin, which the company holds long-term and does not intend to sell. Interpreting these fluctuations as strategic failures is a misunderstanding, he added.