Metaplanet Dismisses $320 Million Bitcoin Sale Rumors

Metaplanet CEO Simon Gerovich swiftly denied rumors that his company had sold $320 million worth of Bitcoin. The speculation began when 5,014 BTC was transferred out of Metaplanet-linked wallets on Wednesday.

The movement raised eyebrows as it resembled a corporate liquidation. However, Gerovich explained that the transfer was simply a 'routine custody operation' between Metaplanet custodial addresses.

According to Gerovich, 'No bitcoin was sold,' and their holdings remain at 43,000 BTC. This clarification came within 24 hours of the initial transfer being flagged by blockchain trackers.

The incident highlights the intense scrutiny digital asset treasury firms are under. Companies like Strategy (MSTR) have been selling slices of their Bitcoin stacks to cover dividends and buy back shares.