Metaplanet CEO shuts down Bitcoin sale speculation after $322M transfer

Metaplanet CEO Simon Gerovich has shut down speculation that the Japanese Bitcoin treasury company was selling its holdings.

“This was a routine custody operation. No bitcoin was sold, and our holdings remain 43,000 $BTC,” Gerovich said Thursday.

The company transferred 5,014 $BTC ($322 million) over a 24-hour span starting Wednesday. Gerovich said the network fees to move the trove cost Metaplanet about $8.

Metaplanet is the third-largest publicly traded Bitcoin treasury company and the largest in Asia. According to Arkham data, it is sitting on an unrealized loss of about $1.4 billion.

Metaplanet has continued to expand its Bitcoin strategy beyond accumulation. In March, the company established Metaplanet Ventures, pledging 4 billion yen ($25 million) over two to three years to invest in Bitcoin and crypto infrastructure in Japan.

The company is targeting holdings of 100,000 $BTC by the end of 2026 and 210,000 $BTC by the end of 2027.