Key facts
- Metaplanet transferred 3,881 BTC, valued at approximately $247 million, to new self-custody wallets.
- The company holds approximately 43,000 BTC acquired at an average cost of $96,000 per coin.
- Metaplanet is currently facing an unrealized loss of approximately $1.6 billion on its Bitcoin holdings.
- Metaplanet's stock price fell 5.15% to close at 221 JPY.
Japan-based Metaplanet transferred 3,881 Bitcoin, valued at approximately $247 million, across several transactions to new self-custody wallets over a three-hour period. The move, reported by on-chain expert Lookonchain, did not involve transfers to exchanges and aligns with the company's previous custody management practices. Metaplanet, which has adopted Bitcoin as a treasury reserve asset, holds roughly 43,000 BTC acquired at an average price of $96,000 per coin. With Bitcoin trading near $63,600, the company is facing an unrealized valuation loss of nearly $1.6 billion, representing a significant drawdown from its investment cost. Metaplanet's stock price fell 5.15% to close at 221 JPY amid speculation that the company might follow other Bitcoin treasury firms in selling holdings. The company's year-to-date stock performance is down 52%, despite a partnership aimed at creating a digital credit system.