Metaplanet CEO denies Bitcoin sale after $322 million transfer, holds 43,000 BTC

Metaplanet CEO Simon Gerovich has dismissed speculation regarding the sale of the company’s Bitcoin holdings following a major on-chain transfer this week.

Large Bitcoin transfer sparks speculation

On Wednesday, Metaplanet moved 5,014 $BTC, valued at $322 million, over a 24-hour period. This sizable transaction prompted questions in the crypto community about whether the Tokyo-based firm had liquidated some of its assets.

Gerovich clarified that the movement represented a standard custody operation. He emphasized that no Bitcoin was sold during the process and confirmed that Metaplanet’s total reserves remain at 43,000 $BTC.

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

According to Gerovich, the company spent approximately $8 in network fees to conduct the transfer, a relatively low cost considering the scale of the transaction.

Metaplanet ranks as the third-largest publicly traded Bitcoin treasury globally and holds the top position in Asia. Data from analytics platform Arkham indicates the company currently faces an unrealized loss of about $1.4 billion on its Bitcoin holdings.

Mini dictionary: Metaplanet, a Tokyo-based company, is a leading Bitcoin treasury firm holding one of the largest corporate reserves of $BTC worldwide.

Expansion of Bitcoin strategy

Metaplanet has demonstrated an ongoing commitment to the Bitcoin ecosystem beyond simple accumulation. In March, the company launched Metaplanet Ventures, allocating 4 billion yen (approximately $25 million) over the next two to three years towards investments in Bitcoin and crypto infrastructure projects within Japan.

Looking forward, Metaplanet has set ambitious growth targets for its Bitcoin reserves. The company aims to reach 100,000 $BTC by the end of 2026 and 210,000 $BTC by the end of 2027, positioning itself among the most significant Bitcoin holders globally.

Earlier this year, Metaplanet also announced efforts to explore Bitcoin-backed digital credit solutions in collaboration with JPYC, a major stablecoin operator in Japan.