Metaplanet Moves $250M in Bitcoin as Paper Loss Swells to $1.4B

The timing raised some concerns within the community as the number of treasury companies selling BTC has been gradually increasing lately. The world’s third-largest public holder of Bitcoin made a substantial transfer hours ago, which raised some questions given the peculiar timing. Metaplanet, which adopted its BTC strategy a few years ago and was described as Japan’s Strategy, has moved 3,881 units (worth around $250 million), according to data from Arkham and Lookonchain. The company currently holds 43,000 BTC after its latest purchase, which was announced in early July, of 2,823 units for $222 million. Its goal of holding 100,000 BTC by the end of 2026 appears unreachable at the moment, given its current portfolio and a substantial reduction in the frequency of its purchases. Its average acquisition price remains just over $96,000, meaning it has spent over $4.1 billion to accumulate its BTC fortune. However, the asset’s significant correction over the past several months has put Metaplanet’s position well in the red, with a paper loss of $1.4 billion. Metaplanet (@Metaplanet) transferred a total of 3,881 $BTC ($247.3M) over the past 3 hours. Metaplanet bought a total of 43,000...