Metaplanet clarifies a $320 million BTC transfer was a custody move, maintaining its $2.73 billion Bitcoin holdings.
Metaplanet denied selling $320 million worth of Bitcoin after data tracking firms flagged a large transfer from its wallets. CEO Simon Gerovich stated the movement involved 5,014 BTC shifted between custodial addresses, not a liquidation.
The Tokyo-based firm holds 43,000 Bitcoin, valued at $2.73 billion. Recent speculation arose as rival firm MicroStrategy sold portions of its BTC holdings to fund dividends and bolster USD reserves.
Metaplanet’s stock has fallen 78% over the past year on the Tokyo Stock Exchange amid broader crypto market volatility.