Metaplanet Moves $250M in Bitcoin as Paper Loss Swells to $1.4B

The world’s third-largest public holder of Bitcoin made a substantial transfer hours ago, which raised some questions given the peculiar timing.

Metaplanet, which adopted its BTC strategy a few years ago and was described as Japan’s Strategy, has moved 3,881 units (worth around $250 million), according to data from Arkham and Lookonchain.

The company currently holds 43,000 BTC after its latest purchase, which was announced in early July, of 2,823 units for $222 million.

Its goal of holding 100,000 BTC by the end of 2026 appears unreachable at the moment, given its current portfolio and a substantial reduction in the frequency of its purchases.