Metaplanet CEO defends Bitcoin purchases as paper losses mount

A growing number of companies that purchased billions of dollars’ worth of Bitcoin in recent years are facing growing investor complaints. After Strategy in the United States saw tons of investor critique, it’s now Metaplanet’s turn in Japan. In early 2024, the company copied Strategy’s playbook and began buying Bitcoin (and borrowed money to do so). When things went well, the Bitcoin price rose and so did MetaPlanet’s share price. Now that the (paper) losses are piling up, CEO Simon Gerovich is being held accountable.

1.2 miljard dollar

The Japanese company MetaPlanet began in the spring of 2024 to copy the business plan of MicroStrategy (now Strategy). That plan is actually quite simple: if you have money to spare, buy Bitcoin. Investors in Tokyo were initially very enthusiastic. Between 2024 and 2025, Metaplanet’s stock rose by more than 4,000%.

However, after Bitcoin reached an ATH last year and then began to decline, Metaplanet’s share price also fell. This year alone, it has fallen 41%.

Thank you to every Metaplanet shareholder. When we started this journey, we had a handful of believers. Today we have hundreds of thousands of shareholders around the world. That growth reflects trust, and we don’t take it lightly for a single day.

This has not been an easy…

— Simon Gerovich (@gerovich) February 19, 2026

However, the company’s CEO, Simon Gerovich, refuses to panic and believes Bitcoin has bottomed at $60,000. In a lengthy social media post yesterday, he attempted to defend his company from vultures. Currently, Metaplanet is facing a (albeit only on paper) loss of $1.2 billion on its Bitcoin purchases.