Metaplanet's $322 million Bitcoin transfer triggers market panic

Author: Claude, Deep潮 TechFlow

MetaplanetCEO denies selling coins: $320 million transfer was a false alarm; the company’s trust cannot withstand even a routine transfer

DeepChain Summary: Starting Wednesday, Asia’s largest Bitcoin vault company, Metaplanet, transferred 5,014 Bitcoin (approximately $322 million) within 24 hours. As soon as the on-chain data surfaced, speculation immediately spread that “they’re selling.” CEO Simon Gerovich quelled the rumors on Thursday, clarifying that the movement was merely a transfer between custodial addresses—no Bitcoin was sold. The scare was unfounded, but the market reacted so strongly because major vault players like Strategy and MARA have indeed been selling this year.

On Wednesday, the on-chain data platform Lookonchain monitored Metaplanet's wallet transferring 3,881 bitcoins (approximately $247 million) within three hours. After The Block followed up with a report, speculation quickly spread that Metaplanet was selling its bitcoins. On Thursday, CEO Simon Gerovich responded directly on X: “This was a routine custody operation. No bitcoins were sold; our holdings remain at 43,000.”

$8 fee moved $320 million: CEO shares data to prove “not a single coin sold”