Metaplanet CEO Simon Gerovich has denied claims that the Tokyo-listed company sold any Bitcoin, after a transfer of 5,014 BTC — valued at roughly $320 million — between company wallets drew attention online.

“We transferred 5,014 BTC between Metaplanet custodial addresses over the past 24 hours,” Gerovich wrote on X. “This was a routine custody operation. No bitcoin was sold, and our holdings remain 43,000 BTC.”

Gerovich added that the transfers were visible because Metaplanet publishes its Bitcoin addresses, meaning the wallet movements can be tracked in real time by anyone via the company's public analytics page. Large movements from corporate Bitcoin treasuries routinely draw scrutiny from on-chain observers, because transfers to exchange wallets are often read as a possible precursor to selling — though Metaplanet said these transfers stayed between its own custodial addresses.

Speculation that Metaplanet might be looking to offload some of its holdings had been fueled by recent Bitcoin sales from Strategy. The U.S. Bitcoin treasury firm — formerly known as MicroStrategy and the largest corporate holder of Bitcoin — sold 6,948 BTC for roughly $432.5 million this year, according to Decrypt's earlier reporting. Metaplanet, originally focused on the hotel business before pivoting to a Bitcoin treasury strategy in 2024, has openly modeled its approach on Strategy's, adopting Bitcoin as its primary treasury reserve asset.

The denial also came as the Tokyo-listed firm launched BitBonds, a newly announced fixed-rate debt program that gives it another way to raise capital. Metaplanet has continued to add to its Bitcoin treasury, buying 5,075 BTC in the first quarter of 2026 and another 1,005 BTC in June, bringing its holdings to 43,000 BTC, worth around $3 billion.

Metaplanet said the program could be used for future Bitcoin purchases and other corporate purposes. By issuing debt, the company can raise cash without immediately issuing more shares or selling Bitcoin from its treasury. The company has previously funded Bitcoin purchases through a series of individual bond issuances and stock-acquisition-rights offerings; BitBonds gives it a standing framework for future debt sales rather than deal-by-deal raises.

“The Company intends to continue issuing bonds under the Program in light of market conditions and other factors and, over the medium to long term, as the scale of issuance expands, to put in place the arrangements necessary to enable public bond offerings made under a securities registration statement or similar filing,” Metaplanet said in a statement.

The program expands Metaplanet's capital-markets strategy as it continues to build one of the largest public-company Bitcoin treasuries outside the U.S. While BitBonds gives the company another way to raise money for Bitcoin purchases, it also adds more obligations: if Bitcoin's price falls, Metaplanet still has to make payments on its debt. And because the company publishes its wallet addresses, any future treasury movements — routine or otherwise — will remain publicly visible in real time.