Metaplanet Denies Bitcoin Sell-Off, Confirms 43,000 BTC Holdings
Tokyo-listed Bitcoin treasury firm Metaplanet has rejected speculation that it sold a significant portion of its Bitcoin holdings.
CEO Simon Gerovich moved to clarify the situation after blockchain trackers identified a large BTC transfer linked to the company. He said the transaction was a routine movement of funds between Metaplanet’s custodial addresses rather than a sale.
Gerovich said the company transferred 5,014 BTC over a 24-hour period but did not sell any of the coins. He also confirmed that Metaplanet’s total Bitcoin holdings remain at 43,000 BTC.
The transfer, valued at roughly $320 million based on Bitcoin’s market price at the time, was flagged by blockchain monitoring firms on Wednesday. The large movement quickly fueled speculation that Metaplanet could be preparing to sell part of its reserves.
Corporate Bitcoin treasury companies have faced increasing scrutiny as investors monitor whether major holders might reduce their positions to secure profits or strengthen their balance sheets.
Strategy, the largest corporate Bitcoin holder, has recently sold portions of its BTC holdings to help fund dividends on its STRC preferred stock, repurchase STRC shares and rebuild its U.S. dollar reserves.
