Metaplanet CEO Simon Gerovich moved quickly to quash speculation that the Japanese Bitcoin treasury firm was offloading its $BTC holdings, after blockchain trackers flagged the movement of mo
Metaplanet CEO Simon Gerovich moved quickly to quash speculation that the Japanese Bitcoin treasury firm was offloading its $BTC holdings, after blockchain trackers flagged the movement of more than 5,000 coins worth hundreds of millions of dollars.
Gerovich confirmed that the company has not sold any Bitcoin and still holds 43,000 BTC. He explained that the transfer of 5,014 BTC, worth about $320 million, was a routine shift between Metaplanet custodial addresses rather than a liquidation. The clarification came after on-chain data firms flagged the large wallet movement, triggering concern among investors.
Gerovich noted that the network fees to move the entire trove cost Metaplanet approximately $8. The low cost underlines the operational nature of the transfer, with no assets leaving the company's control.
The transactions involved shifting Bitcoin from Metaplanet's cold storage wallets to new blockchain addresses that remain under the company's control, with none of the transfers going to exchanges.Transferring assets to newly created wallets that are still managed internally is a standard security or custody practice among institutional holders.Metaplanet has done this before, moving nearly 5,000 BTC in March in the same pattern of test transactions followed by larger amounts into new wallets, which analysts read as internal custody reshuffling rather than distribution.
Metaplanet is the third-largest publicly traded Bitcoin treasury company and the largest in Asia. Despite the temporary alarm, its accumulation strategy remains firmly on track.
The company is targeting holdings of 100,000 $BTC by the end of 2026 and 210,000 BTC by the end of 2027.To fund that ambition, Metaplanet CEO Simon Gerovich said the firm secured approximately $255 million from global institutional investors through a share placement, part of a financing package that could deliver up to $531 million in total funding.
The episode highlights a recurring challenge for large corporate Bitcoin holders: on-chain transparency, a core feature of the Bitcoin network, can just as easily generate false alarms as it can surface genuine activity. For Metaplanet, Wednesday's transfer was a reminder that routine treasury management can look, at first glance, like a sell-off.
SourcesCoinDesk: Metaplanet Denies Selling Bitcoin Worth $320 MillionCoinTelegraph: Metaplanet CEO Says No Bitcoin Sold in $322M TransfersThe Block: Metaplanet Lines Up $531 Million for 210,000 BTC Plan
