Markets Metaplanet Refutes Claims of $320 Million Bitcoin Sale
CEO of Metaplanet Addresses Bitcoin Sale Speculation, Confirms 43,000 BTC in Holdings
By Omkar Godbole Updated 13 min ago Published 25 min ago 1 min read Make preferred on ShareShare this articleCopy link X (Twitter) LinkedIn Facebook Email Make preferred on
Metaplanet, listed in Tokyo, has denied any significant bitcoin sales. (Erik Eastman/Unsplash)Summary- Simon Gerovich, CEO of Metaplanet, confirmed that the company has not sold any bitcoin and still possesses 43,000 BTC, despite recent large transactions on the blockchain.
- Gerovich clarified that the transfer of 5,014 BTC, valued at approximately $320 million, was a standard transfer between custodial addresses and not a sale.
Metaplanet, a significant holder of bitcoin, is not liquidating its assets.
CEO Simon Gerovich promptly addressed rumors regarding a large sale, asserting that a recent transfer of BTC, which was noted by blockchain analysis tools, was simply a “routine custody transfer” and not a sale.
“We transferred 5,014 BTC between Metaplanet custodial addresses over the past 24 hours. This was a routine custody operation. No bitcoin was sold, and our holdings remain at 43,000 BTC,” Gerovich stated.
The transfer of 5,014 BTC, worth $320 million at the current market price, was flagged by data tracking companies on Wednesday, leading to speculation that Metaplanet might be preparing to sell.
In the current environment, digital asset treasury firms, with prominent players like Strategy, are under scrutiny as investors keenly observe any indications of these major corporate holders adjusting their positions to secure profits or manage their balance sheets.
Strategy has been offloading portions of its BTC holdings to finance dividends on its preferred stock, repurchase STRC shares, and bolster its U.S. dollar reserves.
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