Metaplanet CEO Dispels Bitcoin Sale Rumors After $322 Million Transfer

Metaplanet Chief Executive Officer Simon Gerovich has firmly rejected speculation that the Japanese Bitcoin treasury company was divesting its holdings, following a large on-chain transfer that drew widespread attention from the crypto community.

"This was a routine custody operation. No bitcoin was sold, and our holdings remain 43,000 $BTC," Gerovich stated on Thursday, putting to rest concerns that triggered discussion across social media and crypto analytics platforms.

The transfer in question involved 5,014 $BTC, valued at approximately $322 million, moved over a 24-hour period beginning Wednesday. Because Bitcoin transactions are recorded on a public ledger, large movements from known corporate wallets are visible to anyone in real time, making institutional relocations a frequent flashpoint for sell-off speculation even when no exchange is involved. Gerovich noted that the Bitcoin network fees for relocating the entire trove totaled only about $8, underscoring the cost-efficiency of large-scale on-chain transactions.

Metaplanet, often described as Japan's equivalent to MicroStrategy, is the third-largest publicly traded Bitcoin treasury company globally and the largest of its kind in Asia. The Tokyo-based firm has aggressively pursued a Bitcoin-centric corporate treasury strategy, accumulating the digital asset as a primary reserve asset on its balance sheet. Japan has established one of the more comprehensive regulatory frameworks for digital assets among major economies, having formally legalized cryptocurrency payments in 2017 and subsequently implementing licensing requirements for crypto exchanges, which has provided a comparatively clear operating environment for companies engaging with Bitcoin.

According to data from blockchain analytics platform Arkham, Metaplanet is currently carrying an unrealized loss of approximately $1.4 billion on its Bitcoin holdings, reflecting the broader downturn in cryptocurrency markets from previous highs.

Beyond accumulation, Metaplanet has been expanding its Bitcoin strategy into broader ecosystem development. In March, the company established Metaplanet Ventures, committing 4 billion yen (approximately $25 million) over a two-to-three-year period to invest in Bitcoin and cryptocurrency infrastructure projects across Japan.

The company has set ambitious targets for its Bitcoin treasury, aiming to hold 100,000 $BTC by the end of 2026 and 210,000 $BTC by the end of 2027. These goals place Metaplanet among the most aggressive corporate Bitcoin accumulators in the world.

Source: CryptoNews.net | Cointelegraph