5,014 Bitcoin Movement at Metaplanet: Company Denies Selling Allegations

Metaplanet announced that the transfer of 5,014 Bitcoin, worth $320 million, was not a sale and that the company’s total holdings remain at 43,000 Bitcoin.

Metaplanet, listed on the Tokyo Stock Exchange, denied selling allegations on Wednesday following a major Bitcoin movement between wallets associated with the company. Rumors that the company was reducing its Bitcoin holdings surfaced after on-chain data tracking platforms made the transfer public.

The total value of the transfer was calculated at $320 million, carried out while the Bitcoin price was approximately $63,856.93. A movement of this magnitude sparked speculation that Metaplanet was preparing to sell a portion of its Bitcoin holdings.

Metaplanet’s Bitcoin transfer was not a sale

Metaplanet CEO Simon Gerovich stated in a social media post that 5,014 BTC were moved between the company’s own custody addresses within the last 24 hours. Gerovich clarified that the transaction was a routine custody operation and that no Bitcoin had been sold.

The company executive emphasized that Metaplanet’s Bitcoin holdings remained unchanged following the transfer, stating that the total amount remained at 43,000 BTC. Thus, it was clarified that the movement between wallets did not imply a transfer to an exchange or preparation for a sale.

Institutional companies holding Bitcoin in their corporate treasuries have recently been under close scrutiny by investors. The industry-leading company Strategy is selling a portion of its Bitcoin holdings to fund dividend payments for its preferred shares, buy back STRC preferred shares, and strengthen its US dollar reserves. These developments increase sensitivity regarding whether large institutional Bitcoin holders are reducing their assets.