Metaplanet Refutes Claims of $320 Million Bitcoin Sale

Metaplanet has officially denied rumors of a $320 million Bitcoin sale, affirming that it retains its entire holding of 43,000 BTC. CEO Simon Gerovich addressed the speculation following a notable transfer of 5,014 BTC, clarifying that this was merely a routine custody operation between the company's custodial addresses.

Clarification on BTC Transfer

Gerovich explained that the recent transfer flagged by blockchain analysis tools was not indicative of a sale but rather a standard operational procedure. "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," he stated.

The transfer, valued at approximately $320 million, raised eyebrows in the market, prompting concerns that Metaplanet might be liquidating its assets. However, the company reassured its investors that it remains committed to holding its Bitcoin.

In the current market climate, large digital asset treasury firms are under close scrutiny as investors monitor their activities for signs of selling or rebalancing. Notably, other firms, such as Strategy, have been selling portions of their BTC to manage their financial strategies, adding to the speculation surrounding Metaplanet's operations.