Metaplanet CEO shuts down Bitcoin sale speculation after $322M transfer

Metaplanet CEO Simon Gerovich said no Bitcoin was sold after the company moved 5,014 BTC between custodial addresses for about $8 in fees.Metaplanet CEO Simon Gerovich has shut down speculation that the Japanese Bitcoin treasury company was selling its holdings.“This was a routine custody operation. No bitcoin was sold, and our holdings remain 43,000 BTC,” Gerovich said Thursday.The company transferred 5,014 BTC ($322 million) over a 24-hour span starting Wednesday. Gerovich said the network fees to move the trove cost Metaplanet about $8.Metaplanet is the third-largest publicly traded Bitcoin treasury company and the largest in Asia. According to Arkham data, it is sitting on an unrealized loss of about $1.4 billion.Metaplanet has continued to expand its Bitcoin strategy beyond accumulation. In March, the company established Metaplanet Ventures, pledging 4 billion yen ($25 million) over two to three years to invest in Bitcoin and crypto infrastructure in Japan.The company is targeting holdings of 100,000 BTC by the end of 2026 and 210,000 BTC by the end of 2027.Related: Metaplanet explores Bitcoin-backed digital credit with JPYC in JapanCointelegraph is committed to independent, t...