TLDR
- Metaplanet moved 5,014 BTC between custodial addresses while CEO Simon Gerovich denied any Bitcoin sale.
- Metaplanet still holds 43,000 BTC in its treasury after the transfers.
- The company said moving roughly $322 million in Bitcoin cost about $8 in total network fees.
- Metaplanet remains the third largest public Bitcoin treasury holder, behind Strategy and Twenty One Capital.
- Bitcoin traded near $63,600, keeping Metaplanet’s holdings below its average acquisition cost.
Metaplanet’s chief executive said the company did not sell any Bitcoin after large transfers appeared on the blockchain. CEO Simon Gerovich made the comment on August 13.
The Japanese firm moved 5,014 BTC between its own custodial addresses over 24 hours. That amount was worth close to 322 million dollars at the time.
Gerovich called the move a routine custody operation. He said no Bitcoin was sold and the company still holds 43,000 BTC.
The total cost to move that much Bitcoin was small. Gerovich said the transfer cost about 8 dollars in network fees.
Why the transfers raised questions
Onchain trackers spotted the wallet activity before Gerovich spoke publicly. Lookonchain flagged 3,881 BTC leaving wallets linked to Metaplanet, worth close to 247 million dollars.
That report did not say the coins had been sold. It only showed that Bitcoin had left known company wallets.
Metaplanet publishes its wallet addresses. This lets outside observers track its holdings in real time, which is why the move drew fast attention.
Large transfers have happened before without a sale. In March, Metaplanet moved about 4,986 BTC worth roughly 368 million dollars after months without activity.
Those coins simply moved to new wallets at the time. There was no evidence the company sold any of them.
Moving Bitcoin between wallets does not always mean ownership changes. Coins can shift between cold storage, new custodians, or other company controlled addresses.
What Metaplanet’s filings show
Metaplanet’s official filings showed no sale notice as of August 13. Its most recent listed filing was dated August 10 and covered a shareholder meeting record date.
The last Bitcoin purchase filing was dated July 2. That filing showed the company adding 2,823 BTC during the second quarter.
After that purchase, Metaplanet’s average acquisition price stood near 15.3 million yen per Bitcoin. Its official tracker still listed 43,000 BTC after the latest transfers.
Bitcoin traded near 63,600 dollars at the time of the report. That price sits below Metaplanet’s average purchase cost.
Lookonchain estimated the company was sitting on close to 1.4 billion dollars in unrealized losses, based on an average buy price near 96,191 dollars. That figure is a paper loss, not a cash loss, since no coins were sold.
Metaplanet remains the third largest public company holder of Bitcoin. Strategy holds 840,447 BTC and Twenty One Capital holds 43,514 BTC, putting Metaplanet just 514 BTC behind third place.
The stock reaction stayed calm after the CEO’s statement. Metaplanet shares traded around 223 yen, up close to 0.9 percent for the session, according to delayed FactSet data.
Bitcoin itself barely moved on the day, trading near 63,616 dollars. Metaplanet shares also trade in the U.S. through the OTCQX market.
Metaplanet has set long term Bitcoin accumulation goals of 100,000 BTC by the end of 2026 and 210,000 BTC by the end of 2027.
The company has also expanded past simple accumulation. It launched a 4 billion yen Bitcoin venture fund in March aimed at financial infrastructure projects in Japan.
Metaplanet has also looked into Bitcoin backed lending products and expanded into securities businesses.
For now, the only confirmed explanation remains the one Gerovich gave. The 5,014 BTC moved between custodial addresses and Metaplanet still reports holding 43,000 BTC.
