Metaplanet Transfer Sparks Fears, CEO Quashes Sell-Off Rumors

Metaplanet CEO Simon Gerovich has confirmed that a recent transfer of 5,014 BTC (approximately $322M) between custodial addresses was a routine custody operation and not a sale.

The transfer was made over a 24-hour period starting on Wednesday, sparking speculation about a potential sell-off among Bitcoin holders.

However, Gerovich clarified that 'no bitcoin was sold' and that the company's holdings remain at 43,000 BTC. The entire transfer cost Metaplanet around $8 in network fees.

This clears one overhang for the market, but it doesn't change Bitcoin's broader structure or the impact of macro economic factors on its price.