Metaplanet CEO Simon Gerovich dismissed market rumors regarding an alleged Bitcoin liquidation, confirming that the Tokyo-listed treasury firm maintains its full holding of 43,000 BTC, according to statements published on X. On-chain data monitoring tools detected a series of large digital asset transfers originating from company-associated accounts, sparking widespread speculation across financial markets that the firm was preparing to sell a portion of its reserves.
On-Chain Data Triggers Market Rumors
According to reports from Gadgets360 and TechFlow, data monitoring companies detected the flow of 5,014 Bitcoin, valued at approximately $320 million, from accounts linked to Metaplanet. On-chain data platform Lookonchain initially flagged the movement of 3,881 Bitcoin within a three-hour window. The sudden transaction volume triggered immediate concern across the cryptocurrency sector, driving speculation that the company intended to liquidate its assets.
The market sensitivity stems from recent strategic shifts among corporate treasury firms. According to TechFlow, treasury peers such as Strategy have executed multiple sales throughout the year, shifting away from long-standing accumulation-only policies to adopt dynamic treasury management. Additionally, mining firm MARA Digital sold 23,093 coins during the first half of the year, while Hut8 transferred 493 coins from its treasury reserves, according to TechFlow reporting.
CEO Clarifies Custody Transfer Operations
Addressing the market reaction directly, Simon Gerovich clarified on X that the transactions were strictly routine administrative operations. “We transferred 5,014 BTC between Metaplanet custodial addresses over the past 24 hours,” Gerovich stated, as reported by Gadgets360. “This was a routine custody operation. No bitcoin was sold, and our holdings remain 43,000 BTC. All of our addresses are published, which is why the transfers were observable in real time.”
Furthermore, industry analysts pointed out that liquidation transactions typically route funds directly into exchange hot wallets rather than moving between internal custody addresses controlled by the entity itself, corroborating the company’s explanation.
Financial Standing and Treasury Metrics
Despite dispelling the liquidation rumors, Metaplanet faces notable valuation pressures amid broader market downturns. According to Gadgets360, the firm’s 43,000 BTC holdings carry an average acquisition cost of approximately $96,000 per coin. With Bitcoin trading near $64,000, the company faces an unrealized loss of approximately $1.4 billion, representing a decline of over 30 percent.
Financial results for the first half of the year indicate strong operational growth coupled with substantial paper losses. According to financial disclosures cited by Gadgets360, Metaplanet reported revenue of JPY 4.94 billion—a 134 percent increase year-over-year—and an operating profit of JPY 3.33 billion, up 136 percent. However, the company registered a net loss of JPY 182.8 billion, driven primarily by non-cash Bitcoin valuation losses.
Expansion Plans and Future Accumulation Targets
Metaplanet continues to invest in regional digital asset infrastructure alongside its treasury holdings. The firm recently launched Metaplanet Ventures, committing JPY 4 billion to fund Bitcoin and cryptocurrency infrastructure projects across Japan over a two-to-three-year period, according to Gadgets360. Long-term accumulation targets remain ambitious, with the company aiming to hold 100,000 BTC by the end of 2026 and 210,000 BTC by the end of 2027.