Metaplanet Moves 4,986 BTC to New Wallets; Stock Drops 12%

• Metaplanet transferred 4,986 BTC ($368M) from dormant wallets, marking its first major activity in three months.
• The company aims to acquire 210,000 BTC, currently holding 35,102 BTC, while raising up to $531M through shares and warrants.

Japan-based Tokyo-listed Bitcoin treasury company Metaplanet Inc. transferred 4,986 Bitcoin (BTC), valued at about $368 million, from its cold storage to new wallets on Tuesday, as per Arkham Intel, a blockchain analytics platform. 

This marks the first huge activity from Metaplanet’s long‑dormant wallet in almost three months. On‑chain analysts note that the transfer involved multiple test transactions before larger amounts were relocated, suggesting internal restructuring rather than a sale on public markets. 

(Source: Arkham)

The move follows Metaplanet’s ongoing strategy to fund Bitcoin accumulation through capital markets. On March 16, the Japanese Bitcoin treasury firm raised $255 million from global institutional investors via a new share placement. The transaction also included warrants that could potentially unlock an additional $276 million, bringing the total potential capital to $531 million.

Metaplanet has set a long-term target of acquiring 210,000 BTC, which would represent roughly 1% of Bitcoin’s total supply. Currently, the company holds 35,102 BTC, reflecting its strategy of steady accumulation over time. Often referred to as “Asia’s MicroStrategy,” the firm uses these capital-raising structures to expand its Bitcoin holdings while continuing to treat the cryptocurrency as a core treasury asset.

(Source: Metaplanet)

At the same time, over the last 30 days, public Bitcoin treasury companies have increased their Bitcoin holdings by about 3.6%. Together, they now hold around 1.178 million BTC, worth over $87 billion.

This growth is mainly due to companies like Strategy buying more Bitcoin when prices dropped. These firms are becoming important buyers in the Bitcoin market, adding to their holdings for the long term rather than for quick trades.

Metaplanet Stock Falls Amid Bitcoin Transfer

However, following the Bitcoin movement and broader market dynamics, Metaplanet’s stock (Tokyo Stock Exchange: 3350) experienced a notable decline. Shares fell by over 12%, closing at 344 yen on Tuesday, after trading between approximately 342 yen and 390 yen during the session. Trading volume for the stock reached around 63 million shares, more than double its recent average.

Market observers attributed the stock’s drop partly to profit‑taking pressures as Bitcoin itself traded lower amid cautious sentiment ahead of macroeconomic events. Some analysts also noted that large treasury movements can prompt investor uncertainty, even if the transfers are for internal management.

At this stage the company has not publicly indicated that the BTC transfer represents a sale or upcoming sale on exchanges, and reports describe the relocation as part of internal balance sheet adjustments. 

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