TLDR
- Metaplanet stock traded at ¥223, up about 0.9%.
- The company transferred 5,014 BTC worth roughly $322 million.
- CEO Simon Gerovich said no Bitcoin was sold.
- Metaplanet continues to hold 43,000 BTC.
- The company targets 100,000 BTC by the end of 2026.
Metaplanet stock rose 0.9% to ¥223 on Thursday after CEO Simon Gerovich denied speculation that the Japanese Bitcoin treasury company had sold part of its holdings. The clarification followed a transfer of 5,014 BTC worth about $322 million between company-controlled custody addresses.
Gerovich said the transfer was a “routine custody operation” and confirmed that “no bitcoin was sold.” Metaplanet continues to hold 43,000 BTC, while the company’s Bitcoin tracker currently values the treasury at about $2.74 billion.
Metaplanet Keeps 43,000 BTC Despite $1.6 Billion Paper Loss
The 5,014 BTC transfer drew attention because blockchain trackers recorded large movements from known Metaplanet wallets. Gerovich said all of the Bitcoin moved between the company’s own custodial addresses, with the transaction costing about $8 in network fees.
Metaplanet’s official tracker lists a total acquisition cost of about $4.41 billion and an average purchase price of $102,502 per Bitcoin. With BTC trading near $63,700, the treasury currently carries an unrealized loss of about $1.67 billion. No loss from the wallet transfer was realized because the company did not sell the assets.
Metaplanet still plans to increase its Bitcoin holdings to 100,000 BTC by the end of 2026. Reaching that target would require the company to acquire another 57,000 BTC from its current balance of 43,000 coins.
Metaplanet Launches BitBonds Funding Program
Metaplanet also launched a new continuous corporate bond program called BitBonds on August 13. The first issuance included four privately placed unsecured bond series worth about ¥200 million, or roughly $1.3 million.
The bonds carry annual interest rates of about 4% to 4.3% and mature in roughly three years. Metaplanet said future BitBond issues will depend on funding requirements, market conditions and investor demand, while the company may eventually consider larger public bond offerings.
BitBonds will operate alongside common shares, preferred stock and equity-linked securities as another funding channel. The bonds are unsecured and unrated, meaning repayment depends on Metaplanet’s credit position rather than direct Bitcoin collateral.
Bitcoin Valuation Loss Drives Metaplanet First-Half Deficit
Metaplanet reported first-half revenue of ¥4.94 billion, up about 134% from a year earlier, while operating profit increased 136% to ¥3.33 billion.
The company still posted a net loss of about ¥182.8 billion, driven largely by a non-cash decline in the reported value of its Bitcoin holdings.
The earnings figures and recent Bitcoin decline leave Metaplanet balancing growing operating revenue with large swings in the value of its treasury. Shares closed at ¥223 as investors assessed the confirmed 43,000 BTC position, the denied sale speculation and the company’s new BitBonds financing strategy.
