Metaplanet: 5,014 BTC moved in custody, not sold

Metaplanet moved 5,014 BTC, roughly $322 million at current prices, over a 24-hour period beginning Wednesday. The company’s reported balance remains 43,000 BTC after the transfer and network fees were about $8, the firm said.

Simon Gerovich, Metaplanet’s chief executive, described the transaction as an internal ledger-level custody shift rather than an outbound sale to exchanges or other counterparties. “This was a routine custody operation. No bitcoin was sold, and our holdings remain 43,000 BTC,” Gerovich wrote Thursday.

The transfer occurred on the Bitcoin network and drew attention because of its size. On-chain analytics indicate Metaplanet is carrying an unrealized loss of about $1.4 billion based on its cost basis and current market prices.

Metaplanet is the third-largest publicly traded bitcoin treasury company and the largest in Asia. In March the company launched Metaplanet Ventures, committing 4 billion yen (about $25 million) over two to three years to invest in bitcoin and crypto infrastructure projects in Japan. The firm has set accumulation targets of 100,000 BTC by the end of 2026 and 210,000 BTC by the end of 2027.

Metaplanet stated the custody transfer does not alter its reported holdings or its stated accumulation goals.