[DigitalToday reporter Yoonseo Lee] Speculation emerged that Japanese investment firm Metaplanet may be moving to sell some bitcoin after it transferred 4,176 BTC from a publicly identified wallet.
Cryptopolitan, a blockchain outlet, reported on Aug. 12 local time that the move came after the firm had held a total of 43,000 BTC for months. The wallet still holds 36,000 BTC.
Metaplanet has steadily increased its bitcoin holdings and bought an additional 2,833 BTC in July. The latest transfer drew market attention because it came from a previously known company wallet. The company has so far not announced any official sale.
Market participants are watching the move as listed companies change their bitcoin treasury strategies. MARA Holdings sold a total of 23,093 BTC in the first half of 2026, and Strategy has also sold bitcoin to raise cash. Strategy previously said it would not sell bitcoin, but later changed its financial management approach by selling some holdings even at prices below its average purchase cost. Hut 8 also moved 493 BTC, but did not explain whether it was an internal transfer or preparations for a sale.
Metaplanet's financial capacity is also being discussed. The company’s average purchase price is $96,191 per bitcoin, a structure that would generate a loss of more than 34 percent if sold at current prices. Bitcoin traded below $64,000, and market sentiment was presented as being in a fear phase.
The stock’s performance is also a burden. Metaplanet shares have fallen more than 43 percent so far in 2026 and recently stayed near record low levels. Over the past few months, the stock moved sideways or continued a gradual decline.
On the financial side, Metaplanet was shown to have about $280 million in cash-like assets and about $403 million in debt in 2026. The company has already reflected bitcoin losses but has maintained expectations for long-term performance. For now, the coin transfer is being seen as an internal move to change its custody structure rather than a panic sell-off.
