Metaplanet moves 3,881 BTC as paper loss nears $1.4B

Metaplanet moved 3,881 Bitcoin worth about $247.3 million from wallets tracked by onchain analysts on Aug. 12, drawing attention to the Japanese company’s large corporate treasury as Bitcoin traded near $63,600. Summary Lookonchain tracked 3,881 BTC leaving Metaplanet linked wallets, worth roughly $247 million during Wednesday transfers. Metaplanet officially reported 43,000 BTC holdings in July and has not announced any Bitcoin sale. The transferred amount equals about 9% of Metaplanet’s last officially disclosed 43,000 BTC treasury balance. Bitcoin traded near $63,600, leaving Metaplanet’s reported acquisition costs deeply underwater on a mark-to-market basis. Hut 8 separately transferred 493 BTC worth about $31 million during the same trading window. Lookonchain first reported a 1,473 BTC transfer worth about $93.8 million, then said total outflows over roughly three hours had reached 3,881 BTC in a later post. Metaplanet was not the only corporate Bitcoin holder moving funds. Lookonchain also reported that Hut 8 transferred 493 BTC worth about $31.36 million roughly three hours earlier. The analyst did not identify the purpose of Hut 8’s transfer, and the company had not announ...