Metaplanet CEO Believes Bitcoin Has Hit Bottom, Asian Cycle Has Begun
Metaplanet CEO Simon Gerovich stated at the "Bitcoin Asia 2026" conference in Hong Kong that Bitcoin has retraced about half from its peak during this low point, and that the stock prices of his company and similar firms have dropped even more. He pointed out that the market trend has completely reversed last week, believing that the bottom has already appeared, and expects the remainder of this year to be better. He mentioned that the current selling is due to forced sales, and new buyers entering the market will not leave. Gerovich believes that the previous cycle belonged to the West, while the first Asian cycle has begun, based on the fact that Japanese households hold about $14 trillion in financial assets, half of which is kept in nearly zero-interest bank deposits. Additionally, wealth management in South Korea, Southeast Asia, and Hong Kong constitutes the deepest pool of patient savings globally. Cash in the U.S. accounts for only about 13% of household wealth. He emphasized that Japan has incorporated Bitcoin into the same regulatory framework as stocks and bonds through legislation passed in July this year, with capital gains tax set to drop from a maximum of 55% to 20%, with a target implementation timeframe of 2027 to 2028. Meanwhile, related regulations in Hong Kong, South Korea, and Singapore are also progressing. Gerovich pointed out that the opportunity lies in the fact that the vast majority of capital in Asia is not unwilling to buy, but rather unable to, as Japanese retail investors do not have access to spot ETFs, and securities accounts cannot hold cryptocurrencies directly, while pension funds' bond authorizations do not allow for holding non-interest-bearing assets. Currently, there are only 20 publicly listed companies in all of Asia holding Bitcoin, with total holdings amounting to less than one-tenth of Strategy's alone.
-- Price
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