Bitcoin
February 20, 2026
Reacting to reports of Metaplanet’s Bitcoin losses and allegedly hiding Bitcoin disclosures, CEO Simon Gerovich strongly rejected the accusations, claiming that all purchases were promptly disclosed and said, “We will never sell Bitcoins.”
He added that concerns raised regarding the September Bitcoin purchases, options trading, financial statements, and borrowings are largely unfounded.
Japanese investment firm Metaplanet has been facing intense scrutiny over the past few days for hiding its Bitcoin purchases. According to critics, the firm is currently sitting on unrealized losses worth over $1.2 billion.
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Metaplanet Bitcoin Losses, CEO Denial, and the ‘Never Sell’ Commitment
Reacting to reports of hiding BTC holdings, Metaplanet CEO, in a post on X, said,
“A portion of them has been used to purchase Bitcoin for long-term holding, and we have promptly disclosed such decisions at the time they were made. On the other hand, all of our Bitcoin addresses are publicly available, and through our live dashboard, shareholders can check our holdings in real time. We are one of the most transparent listed companies in the world.”
The Metaplanet’s live dashboard does show four Bitcoin purchases in September, along with the acquisition cost. According to the dashboard, the firm currently holds 35,102 Bitcoin, with the large acquisition made on December 30, 2025.
Metaplanet’s Bitcoin holdings are under increased scrutiny because, despite higher operating profit, the firm is reeling under losses from its BTC holdings. Shedding light on financial statements and losses, Gerovich said,
“Net profit is not an appropriate metric for evaluating a Bitcoin treasury company. The figure of 6.2 billion yen in operating profit, up 1,694% year-over-year, clearly demonstrates the high quality of our strategy. On the other hand, the ordinary loss arises solely from unrealized valuation changes on our long-term Bitcoin holdings, which we have no intention of selling”.
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The last part of his response is critical. Gerovich asserts that Metaplanet would never sell Bitcoin and would maintain long-term holdings. Bitcoin has experienced significant volatility over the past few weeks, with prices dropping as much as 10% in a single day.
Metaplanet CEO Simon Gerovich’s stance is seen as bold, especially at a time when markets are reassessing their exposure to Bitcoin, with some even cutting back on it. Earlier this week, Harvard reduced its BTC ETF exposure by 21% while investing $86.8 million in an ETH-linked ETF.
