Metaplanet CEO Denies Bitcoin Sale After $322 Million Transfer Sparks Speculation

Metaplanet CEO Simon Gerovich has pushed back against rumors that the Japanese Bitcoin treasury firm was offloading its holdings. He confirmed that no Bitcoin was sold, stating the company’s total holdings remain steady at 43,000 BTC.

Routine Custody Move, Not a Sale

The speculation followed a transfer of 5,014 BTC, worth roughly 322 million dollars, moved between custodial addresses over a 24-hour period starting Wednesday. Gerovich clarified that the entire operation cost the company about 8 dollars in network fees, describing it as a standard custody procedure rather than a market sale.

Third-Largest Bitcoin Treasury Firm

Metaplanet holds the position of the third-largest publicly listed Bitcoin treasury company globally and the largest in Asia. Data from blockchain analytics platform Arkham shows the firm is currently facing an unrealized loss of approximately 1.4 billion dollars on its holdings.

Expansion Plans Continue

Despite the paper loss, Metaplanet has kept building its Bitcoin-focused strategy. In March, the company launched Metaplanet Ventures, committing 4 billion yen, around 25 million dollars, over two to three years toward Bitcoin and crypto infrastructure projects in Japan. The firm is aiming to reach 100,000 BTC in holdings by the end of 2026 and 210,000 BTC by the end of 2027.