Now Reading: Metaplanet denies Bitcoin liquidation after $320M transfer
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Metaplanet denies Bitcoin liquidation after $320M transfer
The Story in Brief
The Story in Brief
Japanese Bitcoin treasury firm Metaplanet has denied selling Bitcoin after blockchain monitors spotted a transfer of 5,014 BTC worth roughly Rs. 3,053 crore. CEO Simon Gerovich said the coins were moved between the company’s own custodial addresses in a routine operation. Gadgets360 reports the company continues to hold 43,000 BTC even as falling prices pressure its strategy and create losses on its holdings.
The Indian Opinion
Rumours of a forced Bitcoin sale spread fast, but Metaplanet's explanation, routine custody moves, is plausible for a treasury firm. The real question is whether falling prices will force actual sales later. Markets love a panic narrative, but so far the company holds 43,000 BTC. Watch for any future transfers to exchanges: that will separate bluff from compulsion.
Source: gadgets360.com
This story was synthesised by AI from the source linked above. Methodology and corrections.
Ashin Xavier: interesting
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