Metaplanet CEO Simon Gerovich has publicly denied speculation that the treasury company was selling its Bitcoin holdings after a routine transfer sent rumor mills into overdrive.
Gerovich clarified that the Bitcoin treasury company moved 5,014 BTC, worth around $320 million, between its custodial wallets, not to an exchange.
Metaplanet Shuts Down Bitcoin Sale Speculations
Gerovich confirmed the Bitcoin treasury company’s Bitcoin holdings remain unchanged after blockchain trackers spotted a transfer from wallets linked to the company. The transfer fueled speculation that Metaplanet was following Strategy’s lead and cashing out on some of its holdings. However, Gerovich moved quickly to calm speculation, stating that it was a routine transfer between company wallets.
“We transferred 5,014 BTC between Metaplanet custodial addresses over the past 24 hours. 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. Total network fees to move $322 million in bitcoin: approximately $8.”
Metaplanet’s wallet addresses are public, allowing anyone to view transfers on-chain. However, the company’s commitment to transparency around its holdings briefly worked against it, setting off alarm bells in the community. Metaplanet currently holds 43,000 BTC, worth around $3 billion at current prices. With BTC’s steep decline, the company is sitting on an unrealized loss of around $1.4 billion, according to data from Arkham Intelligence.
Recent Strategy Sales Increase Scrutiny On Bitcoin Treasury Companies
Strategy’s recent Bitcoin sales have soured market sentiment and increased scrutiny of Bitcoin treasuries. This is why Metaplanet’s routine transfer created significant speculation about an imminent sale, with investors assuming it is following Strategy’s footsteps. Strategy, the largest corporate holder of Bitcoin, has been strategically selling BTC to fund dividend obligations on its preferred STRC stock and buy back STRC. It is also selling MSTR to fund its dollar reserve.
Future Bitcoin Acquisitions
Metaplanet’s Bitcoin stash has grown steadily in 2026, despite a substantial decline in BTC’s price. The company added 5,075 BTC during Q1 2026, followed by a 2,823 BTC purchase in Q2, taking its total stash to 43,000 BTC. Metaplanet is the third-largest Bitcoin treasury company in the world and the largest in Asia. It plans to increase its Bitcoin holdings to 100,000 BTC by the end of 2026 and 210,000 BTC by the end of 2027.
The Bitcoin treasury company has also launched BitBonds, a fixed-rate debt program to fund future Bitcoin acquisitions and other corporate obligations. The program allows Metaplanet to raise capital without issuing stock or dipping into its Bitcoin holdings.
The company stated, “The Company intends to continue issuing bonds under the Program in light of market conditions and other factors and, over the medium to long term, as the scale of issuance expands, to put in place the arrangements necessary to enable public bond offerings made under a securities registration statement or similar filing.”
Metaplanet is also expanding beyond Bitcoin accumulation, establishing Metaplanet Ventures in March 2026, and pledging 4 billion yen ($25 million) over two years toward Bitcoin and crypto infrastructure in Japan.
Metaplanet Posts 3.33 Billion Yen Operating Profit
Metaplanet published its revenue numbers for the first half of 2026 on Thursday, reporting 4.94 billion yen ($33 million) in first-half revenue, a 134% increase year-over-year. It also reported a 3.33 billion yen ($20.3 million) operating profit, up 136%, while reporting a 182.8 billion yen net loss ($1.2 billion), driven by a non-cash Bitcoin valuation loss. Metaplanet noted that it sold no Bitcoin in 2026 and added 7,898 BTC during H1 2026, taking its holdings to 43,000 BTC.
The company reported 4.7 billion yen in revenue from its Bitcoin income business and a 4.2 billion yen profit. The majority of this revenue came from Bitcoin derivatives trading, with option premium income accounting for 4.5 billion yen.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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