Metaplanet Says $320M Bitcoin Transfer Was Not a Sale

Metaplanet has rejected speculation that it sold Bitcoin after a large transfer from wallets linked to the Tokyo-listed company sparked concerns of a potential sell-off.

CEO Simon Gerovich said the movement of 5,014 BTC was simply an internal custody transaction and did not involve selling any of the company’s holdings.

Gerovich said Metaplanet moved 5,014 BTC between its custodial addresses over a 24-hour period as part of routine custody management. He confirmed that the company did not sell any Bitcoin and continues to hold 43,000 BTC.

Blockchain monitoring firms flagged the transaction on Wednesday. The transferred Bitcoin was worth roughly $320 million at the prevailing market price, leading some observers to speculate that Metaplanet could be preparing to reduce its BTC position.

The clarification comes as corporate Bitcoin treasury companies face increased scrutiny from investors. Market participants are closely monitoring large holders for signs that they may sell Bitcoin to lock in gains, fund obligations or reduce balance-sheet exposure.

Strategy has recently sold portions of its Bitcoin holdings to help finance dividends on its STRC preferred shares, repurchase STRC and rebuild its U.S. dollar reserves.