Metaplanet Executives Control Key Stock Rights Amid Bitcoin Accumulation Plans

Metaplanet, a company involved in Bitcoin accumulation, has five executives who collectively control 459,000 units of the 10th Series Stock Acquisition Rights. Simon Gerovich, an executive, holds 276,000 units and exercised 92,000 units on August 28, 2026 to acquire 64,032,000 common shares that remain under a five-year lock-up through August 17, 2031.

The company aims to accumulate 100,000 BTC by the end of 2026. As of June 30, 2026, Metaplanet held 43,000 BTC and had spent ¥35.886 billion in the second quarter of 2026 to buy 2,823 BTC at an average price of ¥12,712,055 per BTC.

The company's accumulation strategy involves selling cash-secured put options to lower its effective purchase price, which has generated $18.63 million in premiums. However, this strategy poses a significant concentration risk as the company's 43,000 BTC represents a substantial portion of its assets, making it vulnerable to sharp declines in Bitcoin prices.