Metaplanet CEO Fires Back at Critics as $1.2 Billion Bitcoin Paper Losses Mount
Metaplanet CEO Simon Gerovich fired again at critics, accusing the Japanese Bitcoin-holding agency of misusing shareholder funds and hiding key disclosures.
Why it issues:
- Metaplanet holds over $1.2 billion in unrealized Bitcoin losses, making transparency round fund use a direct concern for shareholders.
- Allegations of undisclosed borrowing in opposition to BTC holdings elevate governance pink flags for public-company crypto traders.
The particulars:
- Critics alleged Metaplanet purchased BTC at a market high, stayed silent throughout the drawdown, and borrowed in opposition to these holdings with out disclosing rates of interest or counterparties.
- Gerovich confirmed Bitcoin pockets addresses are publicly listed, with a reside shareholder dashboard monitoring holdings in actual time.
- Gerovich known as September’s buy value a “native high” however defended a long-term, non-market-timed technique.
- The firm reported 6.2 billion yen in working revenue — up 1,694% year-over-year.
- Gerovich attributed reported accounting losses solely to unrealized mark-to-market BTC fluctuations on unsold holdings.
- Meanwhile, CoinGecko at the moment tracks Metaplanet’s unrealized BTC losses at over $1.2 billion.
The large image:
- Metaplanet follows the MicroStrategy playbook — utilizing fairness and debt to build up Bitcoin as a major treasury asset.
- Corporate BTC holders now face rising stress to satisfy conventional disclosure requirements as unrealized losses mount throughout the sector.
- The allegations expose a structural pressure: Bitcoin’s on-chain transparency doesn’t mechanically fulfill securities legislation disclosure necessities.
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