Metaplanet Quashes $320M Bitcoin Sell Rumors

Tokyo-listed Metaplanet has denied selling its Bitcoin holdings worth $320 million. According to CEO Simon Gerovich, Wednesday's large transfer of 5,014 BTC was a routine custody operation and not a liquidation.

The transfer sparked speculation that the company might be preparing to sell its coins, but Gerovich clarified that no Bitcoin was sold and Metaplanet still holds 43,000 BTC. This comes amid increased scrutiny on digital asset treasury firms like Strategy, which has been selling portions of its BTC holdings to fund dividends and repurchase shares.