Metaplanet Quells Speculation with Routine BTC Transfer

Metaplanet, Japan's largest Bitcoin treasury company, has shut down speculation that it was selling its holdings after transferring 5,014 BTC (worth $322 million) over a 24-hour period. According to CEO Simon Gerovich, the transfer was a 'routine custody operation' and not a sale of any kind.

The company's Bitcoin holdings remain at 43,000 BTC, and Gerovich noted that network fees for moving the funds cost Metaplanet around $8. The transfer has sparked some interest due to the large amount of Bitcoin being moved, but Metaplanet is committed to its long-term strategy.

In March, Metaplanet established Metaplanet Ventures, which aims to invest 4 billion yen ($25 million) over two to three years in Bitcoin and crypto infrastructure in Japan. The company has set a target of holding 100,000 BTC by the end of 2026 and 210,000 BTC by the end of 2027.