Simon Gerovich, the CEO of Japan-based Bitcoin treasury firm Metaplanet, has acknowledged that the ongoing crypto rout has been painful.
In late 2025, the firm’s stash (35,012 BTC) saw a paper loss of $619 million following the BTC price crash. The unrealized loss has now doubled to over $1.2 billion as of February.
However, Gerovich assured that the firm has no plan to offload its stash if the crypto winter deepens, adding that,
On Bitcoin’s next direction, Gerovich, like Fidelity and most analysts, was cautiously optimistic of a potential market bottom around $60K.
But he maintained that BTC will likely print a new all-time high and slammed critics of Bitcoin treasury firms.
Bitcoin sees spike in downside bets
In the short term, however, demand for downside protection remained strong, with some eyeing a potential BTC price dip below $60K.
According to the Options tracking platform, Laevitas, there was a surge in bearish bets, eyeing $58K and $55K in late February and March.
The above positioning was interesting because the broader put/call ratios were still constructive and leaned bullish.
This underscored that, despite the potential for a rebound, big players remained cautious that another leg down could occur before a true market bottom is formed.
Even so, Bitfinex analysts noted that whales have scooped up 200,000 BTC in the past 30 days. According to them, the ongoing whale accumulation reinforced their price-range outlook, adding to that,
Source: CryptoQuant/Bitfinex
Final Summary
- Metaplanet CEO was cautiously optimistic that BTC could bottom out above $60K, adding that the Bitcoin treasury firm won’t sell its BTC holdings.
- Whales scooped 200K BTC and could drive the sideways structure above $60K, but there was increasing demand for downside protection.
Source: https://ambcrypto.com/we-will-never-sell-metaplanet-stands-firm-as-bitcoin-losses-top-1-2b/
