Metaplanet, the world’s third-largest public Bitcoin holder, transferred 3,881 BTC (approximately $250 million) earlier today, raising questions as other corporate treasuries have recently sold. The company, often described as Japan’s Strategy, now holds 43,000 BTC after its latest purchase of 2,823 units for $222 million in early July. Its average acquisition price is just over $96,000, with total spending exceeding $4.1 billion. Due to Bitcoin’s significant correction, Metaplanet faces a paper loss of $1.4 billion. The timing of the transfer has sparked concern, though there is no confirmation of an intended sale.
According to data from Arkham and Lookonchain, Metaplanet moved 3,881 Bitcoin, valued at around $247.3 million, over three hours.
The company, which adopted its Bitcoin strategy years ago, currently holds 43,000 BTC after its latest purchase of 2,823 units for $222 million in early July.
Its goal of holding 100,000 BTC by the end of 2026 appears unreachable given its current portfolio and a substantial reduction in purchase frequency. The average acquisition price remains just over $96,000, meaning Metaplanet has spent over $4.1 billion to accumulate its fortune.
The asset’s significant correction over the past several months has put the company well in the red, with a paper loss of $1.4 billion. As Lookonchain stated, “Metaplanet bought a total of 43,000 $BTC at an average price of $96,191 and is currently sitting on a loss of $1.4B(-34%).”
The timing of the transfer has raised concerns within the community, as the number of treasury companies selling Bitcoin has been gradually increasing. There is no confirmation that Metaplanet intends to sell, but it would not be a surprise since many other firms have done so.
The largest corporate holder of the cryptocurrency, Strategy, has completed several sales this year, and the trend was mimicked by miners and other firms that hold Bitcoin on their balance sheets. Metaplanet has refrained from selling for now, but such transfers raise some questions.
