Summary
- Metaplanet CEO Simon Gerovich said the company has not sold any bitcoin and still holds 43,000 BTC despite recent large on-chain movements.
- Gerovich explained that the transfer of 5,014 BTC, worth about $320 million, was a routine shift between Metaplanet custodial addresses rather than a liquidation.
Tokyo-listed bitcoin holder Metaplanet isnt dumping its bitcoin bags.
Company CEO Simon Gerovich moved quickly to dismiss reports of a massive sale, clarifying that Wednesdays large BTC transfer, flagged by blockchain trackers, was merely a “routine custody transfer” and not a liquidation.
“We transferred 5,014 BTC between Metaplanet custodial addresses over the past 24 hours. This was a routine custody operation. No bitcoin was sold, and our holdings remain 43,000 BTC,” Gerovich said.
On Wednesday, data tracking firms flagged the movement of 5,014 BTC, worth $320 million at the going spot price, from wallets linked to the firm. That sparked a speculation that the firm was preparing to sell those coins.
These so-called digital asset treasury firms, led by industry giant Strategy, has come under the microscope recently as investors watch for any sign of these major corporate holders trimming their positions to lock in gains or manage balance sheet risk.
Strategy portions of its BTC holdings to fund dividends on its preferred stock, repurchase STRC preferred shares and replenish its U.S. dollar reserve.