Metaplanet CEO Simon Gerovich says no BTC was sold after a $322M on-chain transfer sparked speculation. The company’s holdings remain at 43,000 BTC.
On-chain data showing a $322 million movement out of Metaplanet's known wallets on Aug. 12 prompted questions about whether the Japanese company had begun offloading its Bitcoin (BTC) holdings. CEO Simon Gerovich addressed the concern the following day. "This was a routine custody operation. No bitcoin was sold, and our holdings remain 43,000 BTC," he posted on X on Aug. 13.
The transfer involved 5,014 BTC moving between custodial addresses over a 24-hour window. Gerovich said the network fees for the move totaled about $8.
No Bitcoin Was Sold
Metaplanet is the third-largest publicly traded Bitcoin treasury company by holdings and the largest in Asia. Arkham data shows the company is carrying an unrealized loss of about $1.4 billion on its current Bitcoin position.
The company has stated targets of 100,000 BTC by the end of 2026 and 210,000 BTC by the end of 2027. In March, it set up Metaplanet Ventures with a 4 billion yen ($25 million) commitment over two to three years to invest in Bitcoin and crypto infrastructure in Japan.
Related Article: Metaplanet Siiibo Deal Lays Groundwork for Bitcoin Bond Market, Says Benchmark
Company Reports H1 2026 Results
Metaplanet released its H1 2026 financial results on Aug. 13. Revenue came in at 4.94 billion yen (around $31 million), up 134% from the same period a year earlier, and operating profit reached 3.33 billion yen ($20.9 million), a 136% year-over-year increase.
The company reported a net loss of 182.8 billion yen ($1.1 billion) for the period. The loss was driven primarily by a non-cash valuation adjustment on its Bitcoin holdings rather than any realized sale of assets.
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