Metaplanet CEO shuts down Bitcoin sale speculation after $322M transfer
Metaplanet CEO Simon Gerovich has shut down speculation that the Japanese Bitcoin treasury company was selling its holdings.
The company transferred 5,014 BTC ($322 million) over a 24-hour span starting Wednesday. Gerovich said the network fees to move the trove cost Metaplanet about $8.
Metaplanet is the third-largest publicly traded Bitcoin treasury company and the largest in Asia. According to Arkham data, it is sitting on an unrealized loss of about $1.4 billion.
Metaplanet has continued to expand its Bitcoin strategy beyond accumulation. In March, the company established Metaplanet Ventures, pledging 4 billion yen ($25 million) over two to three years to invest in Bitcoin and crypto infrastructure in Japan.
The company is targeting holdings of 100,000 BTC by the end of 2026 and 210,000 BTC by the end of 2027.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Japanese Yen: September BoJ decision shapes path – HSBC
ZCAT crypto rallies 35% after reported $2.8M in ZEC rewards
WTI Oil climbs as Middle East supply risks remain evelated
Australian Dollar hits three-month high as RBA rate hike bets intensify
Crypto prices
More
