Metaplanet Denies Selling Bitcoin, Clarifies $322 Million Transfer Is Not a Dump

Stock News08-13 15:06

Metaplanet CEO Simon Gerovich has publicly refuted recent market rumors, clarifying that the company has not sold any of its Bitcoin holdings. This statement comes after the firm moved 5,014 Bitcoin, valued at approximately $322 million, to other addresses within a 24-hour period starting Wednesday, with the on-chain network fee for the transfer costing just $8.

As the third-largest publicly traded Bitcoin custodian globally and the largest in Asia, Metaplanet currently carries an unrealized loss of approximately $1.4 billion on its books. A more critical factor is its strategic expansion. In March, the company established the MetaplanetVentures fund, planning to invest 4 billion yen (about $25 million) over the next two to three years, focusing on Bitcoin and related crypto infrastructure in Japan.

Looking at its long-term holdings goal, Metaplanet has a clear roadmap. It aims to increase its Bitcoin holdings to 100,000 coins by the end of 2026, with a further target of 210,000 coins by the end of 2027. This aggressive accumulation path indicates that the short-term fund transfer is merely a routine step in its strategy to build Asia's largest crypto asset reserve.

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