Metaplanet CEO denies Bitcoin sale after $322 million transfer

Metaplanet CEO Simon Gerovich has denied rumors that the Tokyo-based firm sold its Bitcoin holdings following a large on-chain transfer of 5,014 BTC, valued at approximately $322 million.

The movement of funds sparked speculation within the cryptocurrency community regarding a potential liquidation. However, Gerovich clarified that the transaction was a routine internal custody operation involving the reorganization of reserves between the company’s own wallets. He noted that the transfer incurred only about $8 in network fees, which is consistent with an internal transfer rather than a sale to an exchange.

Metaplanet currently holds 43,000 BTC, making it the largest publicly traded Bitcoin treasury in Asia and the third-largest globally. The company has outlined ambitious growth targets, aiming to reach 100,000 BTC by the end of 2026 and 210,000 BTC by the end of 2027.