Tokyo-listed company Metaplanet transferred 5,014 bitcoins worth about $320 million on Wednesday, sparking widespread uproar in the market and speculation about whether Metaplanet is preparing to “sell the coins and cash out.” In response, Metaplanet CEO Simon Gerovich came forward to refute the selling rumor and emphasized that this was only a “routine custody transfer,” with the company’s bitcoin holdings not reduced.

In a post on a social media platform, Simon Gerovich wrote: “Within the past 24 hours, we transferred 5,014 bitcoins between Metaplanet custody addresses. This is routine custody work. We have not sold any bitcoins, and our current bitcoin holdings remain 43,000.”

We transferred 5,014 BTC between Metaplanet custodial addresses over the past 24 hours. This was a routine custody operation. No bitcoin was sold, and our holdings remain 43,000 BTC.

All of our addresses are published, which is why the transfers were observable in real time.…

— Simon Gerovich (@gerovich) August 12, 2026

This brief scare was triggered on Wednesday, when several data analytics firms detected a massive outflow of 5,014 BTC from Metaplanet-related wallets. Converted using the spot price at the time, the asset value amounted to $320 million, immediately sparking market speculation and fears that Metaplanet was getting ready to sell off and cash out.

Market panic is not unfounded. Each on-chain move by large Bitcoin-holding companies may be viewed as a sign of a shift in capital strategy. Especially when Bitcoin’s price is still trading in a range, whether companies are adding to positions, adjusting custody, or preparing to lock in gains often affects not only the coin price, but also investors’ re-pricing of the company’s balance sheet and equity valuation.

Taking the world’s largest corporate Bitcoin holder, Strategy (MSTR), as an example: the company has recently indeed continued to sell portions of its Bitcoin. The funds are mainly used to pay preferred-share STRC dividends, repurchase STRC, and bolster its USD reserves.

"Caught in a ‘dumping’ scandal! Metaplanet denies selling $320 million worth of Bitcoin" was first published at (BlockBeats).