Japanese company Metaplanet has refuted reports about selling its Bitcoin assets following a major movement of the cryptocurrency. The organization's CEO, Simon Gerovich, stated that the operation was solely related to fund management and storage, while it reflected changes in the company's position in the crypto market.
The discussions were triggered by a transfer of 5,014 $BTC worth approximately $322 million. Large movements of assets from corporate wallets often spark rumors of a potential sale, but Metaplanet clarified that the Bitcoins were moved as part of a standard technical procedure.
The company currently owns 43,000 $BTC and has not reduced its reserve volume. According to Gerovich, the recent operation required minimal costs, as the transaction fee for the transfer amounted to no more than $8.
Metaplanet is one of the largest public companies using Bitcoin as a strategic financial asset. The organization ranks 3rd among corporate owners of the leading cryptocurrency and remains the largest public Bitcoin holder in Asia.
However, the decline in Bitcoin's price has affected the valuation of the company's portfolio. Metaplanet's unrealized loss is estimated at approximately $1.4 billion. Despite this, the management is not changing its strategy and continues to view Bitcoin as a long-term reserve instrument.
The company is expanding its activities in the digital currency space. In March, Metaplanet established a subsidiary, Metaplanet Ventures, which will invest in Bitcoin projects and Japan's cryptocurrency market infrastructure. An allocation of 4 billion yen is provided for the development of this direction, to be gradually disbursed over 2–3 years.
Metaplanet's main goal is to significantly increase the volume of its Bitcoin reserves. The company plans to accumulate 100,000 $BTC by the end of 2026 and raise the figure to 210,000 coins by the end of 2027.
