According to BlockBeats, Simon Gerovich, CEO of Japan's Bitcoin treasury company Metaplanet, addressed concerns regarding the company's recent stock performance on the X platform.
Gerovich clarified that the disclosure of a Bitcoin purchasing window from September to October was necessary for regulatory purposes and not a strict timeline. The company prioritizes speed in Bitcoin acquisitions while considering market impact and balancing three factors: maximizing BTC returns, minimizing market impact on Bitcoin prices, and optimizing Bitcoin revenue business.
He emphasized that short selling stocks and using stock issuance to cover positions is illegal, a fact well-known among Japanese brokers. The 30% drop in Metaplanet's stock price was neither planned nor desired, and specific market activities cannot be publicly speculated upon.
Gerovich also noted that a significant portion of Metaplanet's funding comes from long-only institutional investors. He warned that an mNAV (market value to net asset value ratio) below one could negatively impact Metaplanet's Bitcoin yield. In response, the company may consider issuing preferred stock or conducting stock buybacks.
