Live updates: Bitcoin at $63,600 as Japan's Metaplanet moves 3,881 BTC between wallets
Reported by CoinDesk · AI-assisted summary by ChikoCorp AI News Desk
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Summary
Japan's Metaplanet moved 3,881 BTC, valued at about $247 million, between its own wallets over three hours on Wednesday, according to Arkham data. These transfers were from cold wallets to new self-custody addresses controlled by Metaplanet and were not sent to any exchange. This activity resembles prior internal transfers by the company, interpreted as custody reshuffling rather than selling.
Why it matters
The source highlights that since these BTC moves are between self-custody wallets, they do not increase tradable supply on exchanges, meaning the company is not liquidating holdings in this instance. Given Metaplanet's large Bitcoin reserves and unrealized losses, the company's actions are of interest to market observers monitoring major corporate holdings.
Key context
Metaplanet has approximately 43,000 BTC, acquired at an average price near $96,000 per bitcoin, resulting in a roughly $1.4 billion unrealized loss at the current price around $63,600. The company has been an active corporate buyer since April 2024, targeting ownership of 210,000 BTC. Earlier this year, it moved nearly 5,000 BTC in a similar pattern, which analysts interpreted as internal custody restructuring.
Key numbers and entities
Metaplanet moved 3,881 BTC worth approximately $247 million. The bitcoin price mentioned is about $63,600. The company holds around 43,000 BTC purchased at an average cost near $96,000. The unrealized loss is about $1.4 billion, which represents a 34% decline from purchase cost.
What remains unclear
The source does not flag open questions or uncertainties about this specific wallet movement beyond confirming it matches prior patterns. No additional details about future plans for these assets or the timing of reaching the 210,000 BTC target are provided.