Home›Crypto›Market Structure›Metaplanet CEO denies Bitcoin sale after $322M BTC tra…

Metaplanet CEO denies Bitcoin sale after $322M BTC transfer

Metaplanet moved 5,014 BTC across custodial addresses over 24 hours, and the CEO said the transfer cost about $8 in network fees while holdings stay at 43,000 BTC.

Reported · Written up by our desk · Market Structure

Metaplanet CEO Simon Gerovich moved to quell speculation about potential Bitcoin sales after the Japanese Bitcoin treasury company transferred 5,014 BTC over a 24-hour period starting Wednesday, a move Cointelegraph said was valued at about $322 million.

Gerovich said the activity was a routine custody operation, adding that no Bitcoin was sold and that Metaplanet’s holdings remain at 43,000 BTC. He also said network fees for the move were about $8.

Cointelegraph noted that Metaplanet is the third-largest publicly traded Bitcoin treasury company and the largest in Asia. The outlet also cited Arkham data suggesting the company is sitting on an unrealized loss of about $1.4 billion.

Beyond accumulation, Metaplanet has been expanding its strategy, Cointelegraph reported. The company created Metaplanet Ventures in March, pledging 4 billion yen, about $25 million, over two to three years to invest in Bitcoin and crypto infrastructure in Japan, while targeting 100,000 BTC by the end of 2026 and 210,000 BTC by the end of 2027.

Latest closeBitcoin $63,658.51 ▲0.2%

More like this

Sources