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The Tokyo-based firm reported a first-quarter loss of $725 million on Wednesday. To put that in perspective, this time last year the loss was $31 million. In twelve months, the bleeding has grown more than twentyfold. That is not a paper cut. That is a wound that demands attention. The culprit is not hard to…
Metaplanet CEO Simon Gerovich has rejected accusations that the company misled investors about its Bitcoin treasury strategy, pushing back against critics who claim the firm withheld key information about cryptocurrency purchases and derivatives trades. The defense comes as investor scrutiny intensifies around leveraged Bitcoin treasury companies following significant market drawdowns in recent months. Gerovich addressed…
Metaplanet CEO Simon Gerovich affirmed the company’s commitment to its Bitcoin-first strategy on Friday, even as the Tokyo-listed corporate crypto whale faces mounting losses on both its stock price and balance sheet amid a severe crypto market downturn. “There is no change to Metaplanet’s strategy. We will steadily continue to accumulate Bitcoin, expand revenue and…
The Tokyo-listed firm is doubling down on its Bitcoin treasury strategy, using its massive BTC holdings to fund more purchases and a share buyback program, yet the market seems unimpressed today. In a move that further solidifies its reputation as Japan’s MicroStrategy, Tokyo-listed Metaplanet announced today it has secured a $100 million loan, using its…
