Metaplanet Transfers $250M in Bitcoin Amid Treasury Company Selling Trend
Metaplanet, Japan's third-largest public holder of Bitcoin, made a significant transfer on August 12th. The company moved 3,881 units (worth around $250 million), according to data from Arkham and Lookonchain.
This move raises some concerns within the community as it coincides with an increasing trend of treasury companies selling BTC. Metaplanet's average acquisition price remains just over $96,000, meaning it has spent over $4.1 billion to accumulate its BTC fortune.
However, the asset's significant correction over the past several months has put Metaplanet's position well in the red, with a paper loss of $1.4 billion. The company's goal of holding 100,000 BTC by the end of 2026 appears unreachable at the moment, given its current portfolio and a substantial reduction in the frequency of its purchases.