Metaplanet CEO Denies Selling Bitcoin After 5,014 BTC Transfer
Summary
- Metaplanet's CEO said the recent transfer of 5,014 BTC was routine custody-related work and that the company did not sell any Bitcoin.
- Metaplanet said its holdings remain unchanged at 43,000 BTC, and that it is the world's third-largest publicly listed Bitcoin holder and the largest in Asia.
- Metaplanet said it plans to expand its Bitcoin holdings to 100,000 BTC by the end of this year and 210,000 BTC by the end of 2027, while investing about $25 million in Japan's Bitcoin and digital-asset infrastructure.
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Metaplanet, a Japanese Bitcoin treasury company, denied market speculation that it had sold Bitcoin after a recent large transfer.
Chief Executive Officer Simon Gerovich told Cointelegraph on Aug. 13 that the movement was part of routine custody-related work. He said Metaplanet had not sold any Bitcoin and that its holdings remained unchanged at 43,000 BTC.
Metaplanet moved a total of 5,014 BTC over the previous 24 hours, fueling speculation that it may have sold some of its holdings. The transferred Bitcoin was worth about $322 million at the time. Gerovich said the network fee for the transfer was about $8.
Metaplanet is the world's third-largest Bitcoin holder among listed companies and the largest in Asia. Based on Arkham data, the company is carrying about $1.4 billion in unrealized losses on its Bitcoin holdings.
The company is also expanding into related businesses beyond accumulating Bitcoin. In March, it established Metaplanet Ventures and said it would invest 4 billion yen, or about $25 million, in Japan's Bitcoin and digital-asset infrastructure over the next two to three years.
Metaplanet is maintaining its target of increasing its Bitcoin holdings to 100,000 BTC by the end of this year and 210,000 BTC by the end of 2027.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.