CoinTelegraph

Metaplanet CEO Shatters Bitcoin Sale Rumors After $322M Transfer

August 13, 202601:15 AM
Metaplanet CEO Shatters Bitcoin Sale Rumors After $322M Transfer

Metaplanet CEO Simon Gerovich has decisively shut down speculation that the Japanese Bitcoin treasury company was offloading its holdings, confirming that a massive transfer of 5,014 BTC (valued at $322 million) between custodial addresses was merely a routine custody operation costing only $8 in network fees. The company's Bitcoin holdings remain unchanged at 43,000 BTC.

The clarification provides market stability regarding Metaplanet's Bitcoin strategy, as the company maintains one of the largest corporate crypto treasuries. The substantial movement of Bitcoin without impacting market prices or the company's holdings underscores the efficiency and maturation of cryptocurrency custody infrastructure. Investors are closely watching Metaplanet's position in the evolving corporate Bitcoin landscape.

The company transferred 5,014 BTC ($322 million) over a 24-hour span starting Wednesday. Gerovich clarified that the network fees to move the trove cost Metaplanet about $8. The substantial movement without impacting market prices or the company's holdings demonstrates the efficiency of cryptocurrency custody infrastructure and reinforces Metaplanet's confidence in Bitcoin as a store of value.

This is a summarized and adapted version by Artificial Intelligence. To read the complete original story, visit the official source.

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