Metaplanet CEO Denies Selling Bitcoin: $320 Million Transfer Was a False Alarm, the Company's Trust Can't Afford an Ordinary Transaction
A recent large transfer of 3.22 billion USD worth of Bitcoin (5,014 BTC) from Metaplanet's wallet sparked fears of a major sell-off. However, CEO Simon Gerovich clarified it was merely an internal transfer between the company's own custody addresses, with no actual Bitcoin sold. The market's immediate panic reflects a broader loss of trust in the "Bitcoin treasury" model, as other major holders like Strategy and MARA have reversed their "never sell" policies this year to liquidate holdings. Despite quelling sell-off rumors, Metaplanet faces significant challenges: its 43,000 BTC holdings are at an average cost of $96,000, resulting in a paper loss of roughly $1.4 billion at current prices (~$64,000). With its stock down over 43% year-to-date and limited new funding, its goal of holding 100,000 BTC by year-end appears unattainable. The incident serves as a case study for investors: scrutinize transfer destinations (exchange vs. internal wallets), check for transparent disclosures, and monitor subsequent holdings to distinguish routine operations from potential sell-offs.
marsbit08/13 07:21
