Metaplanet CEO Denies Selling $322 Million in Bitcoin After On-Chain Alarm
Simon Gerovich clarifies that large BTC movements were routine internal custody transfers, not a strategic exit.
Metaplanet CEO Simon Gerovich has explicitly denied rumors that the Japanese firm sold $322 million worth of Bitcoin. The clarification comes after on-chain data triggered widespread speculation regarding a potential shift in the company's treasury strategy.
The controversy began when analysts observed the transfer of 5,014 BTC—valued at approximately $322 million—within a 24-hour window starting Wednesday. Gerovich shut down the rumors, stating that "not a single coin" was sold. He explained that the movements were routine internal transfers between custodial addresses, noting that the operations were purely administrative and incurred minimal transaction fees of approximately $8.
The Treasury Strategy
Metaplanet has gained international attention by adopting a Bitcoin-first treasury strategy, positioning itself as one of the most aggressive corporate holders of the digital asset in Asia. By treating Bitcoin as its primary reserve asset, the company has mirrored a strategy similar to that of MicroStrategy in the United States. Because of this high-profile commitment, the company's associated wallets are under constant surveillance by the crypto community and on-chain analysts, who track every significant movement of funds to gauge corporate sentiment.
Market Implications
For a company whose primary value proposition is tied to its Bitcoin holdings, the perception of a sale can be volatile. Any suggestion that Metaplanet is liquidating its position could be interpreted by investors as a lack of confidence in Bitcoin's price trajectory or a fundamental pivot in corporate direction. Such signals often lead to immediate fluctuations in stock price and investor sentiment, making transparency regarding wallet movements critical for maintaining market stability.
Current Holdings
Despite the recent on-chain activity, Metaplanet's total holdings remain at 43,000 BTC. The company continues to maintain its stance as a long-term accumulator of the asset. Investors will likely continue to monitor the firm's custodial behavior closely, as any future large-scale transfers will be scrutinized for signs of actual divestment versus routine maintenance of their digital vault.