CoinDesk
Arkham data shows 3,881 BTC, worth about $247 million, moved from Metaplanet's cold wallets to new addresses the company controls over three hours on Wednesday. The transfers did not go to an exchange, so the on-chain activity does not by itself signal a sale.
Metaplanet used a similar pattern in March, when nearly 5,000 BTC moved through test transactions into new self-custody wallets. Wednesday's flow therefore reads as internal custody reshuffling rather than distribution.
Bitcoin was near $63,600, below Metaplanet's roughly $96,000 average acquisition price for its 43,000 BTC holdings, leaving an estimated $1.4 billion unrealized loss, or 34%. The company has stated a target of 210,000 BTC.
Frequently asked questions
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Did Metaplanet send the transferred BTC to an exchange?
No. The 3,881 BTC moved from the company's cold wallets to new self-custody addresses it controls.
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Why does self-custody matter for Bitcoin's tradable supply?
Transfers into fresh self-custody wallets do not add BTC to tradable exchange supply, unlike deposits to an exchange. The move alone therefore does not establish a sale.
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Why is the March transfer relevant to Wednesday's move?
Metaplanet moved nearly 5,000 BTC in March through test transactions and larger transfers into new wallets. Analysts read that pattern as internal custody reshuffling.
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What is Metaplanet's average purchase price for its BTC?
Metaplanet bought its roughly 43,000 BTC at an average price of about $96,000. With Bitcoin near $63,600, the company has an estimated $1.4 billion unrealized loss, or 34%.
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What Bitcoin target has Metaplanet stated?
The company has stated a target of 210,000 BTC.
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