Metaplanet CEO shuts down Bitcoin sale speculation after $322M transfer
Metaplanet CEO Simon Gerovich said no Bitcoin was sold after the company moved 5,014 BTC between custodial addresses for about $8 in fees.
Metaplanet CEO Simon Gerovich has moved to quell speculation that the company was selling its Bitcoin holdings, following a recent transfer of 5,014 BTC between custodial addresses. The transfer, which was valued at approximately $322 million, sparked concerns among investors that the company was liquidating its assets.
However, Gerovich has since confirmed that the transfer was simply a routine custody operation, and that no Bitcoin was sold. The transfer was made for a nominal fee of just $8, highlighting the efficiency and cost-effectiveness of Bitcoin transactions.
Market Impact
The news has helped to allay concerns among investors, who had been speculating about the potential impact of a large-scale Bitcoin sale on the market. The price of Bitcoin has been volatile in recent weeks, and any significant selling activity could have had a downward impact on the market.
Original Source
Read the original article from Cointelegraph
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