According to Lookonchain data, today, August 12, 2026, Metaplanet (Japanese Bitcoin Treasury company) has transferred 3,881 BTC, worth about $247.3 million. The company owns 43,000 BTC at an average purchase price of $96,191. With this transfer, Metaplanet currently holds unrealized losses of around $1.4 billion, or 34%. Moreover, Lookonchain also highlighted that Hut 8 has also transferred 493 BTC, worth roughly $31.36 million.
Bitcoin is under pressure as its price drops, even though trading activity remains steady in the U.S. spot Bitcoin ETF market. Data from SoSoValue shows that on August 11, Eastern Time, spot Bitcoin ETFs brought in a total net inflow of $4.89 million. But that is not a big number given the overall size of the market, and among the funds in the data, only BlackRock’s IBIT posted a net inflow. Meanwhile, large Bitcoin moves by companies like Metaplanet and Hut 8 have caught the market’s attention.
According to crypto youtuber, That Martini Guy, Metaplanet has reportedly moved these BTCs to company’s cold wallet. The transfer has sparked speculation about a potential sale, but there is no staunch evidence that Metaplanet sold the Bitcoin, as the funds were not sent to exchange. The move seems more like a shift in custody rather than a confirmed sell-off.
After Metaplanet’s Move, Strategy’s Bitcoin Sale Adds to the Focus
Meanwhile, Strategy, which is a major company in the Bitcoin treasury space, has also made changes to its holdings. According to Santiment Data, Strategy’s recent Bitcoin sale at 1,690 BTC for $108.6 million as highlighted by one of the crypto analyst has delivered a loss of over $102 million after the company went weeks without buying Bitcoin.
Strategy’s CEO Phong Le said the company will get back to accumulating Bitcoin later this year. The CEO also stated that since the year began, Strategy has acquired around 175,000 BTC and has sold 7,000 BTC, meaning that there have been more purchases (25 times the sales) than sales. Le noted the proceeds from sales went to support preferred stock dividends, buy back company shares, and U.S. dollar reserves. He also said that buyers shouldn’t read the recent sales as a change in the company’s strategy as they still plan to buy more Bitcoin as the year goes on.
Bitcoin ETF Inflows Remain Positive
Along with the activity of large Bitcoin treasury companies, spot Bitcoin ETFs also continue to see money flowing in. As per the data reported presented bySoSoValue, Bitcoin spot ETFs recorded a total net inflow of $4.89 million on August 11, Eastern Time. BlackRock’s IBIT saw the largest daily net inflow at $50.2 million, bringing its total to $61.17 billion over time. Franklin’s EZBC, on the other hand, had the biggest daily outflow at $16.46 million, though its net inflow still stands at $309.75 million all time. In the month of August, the spot Bitcoin ETFs products saw an outflow on August 10, 2026 (worth -$144.67 million), whereas, the the rest of the days saw significant inflows.
At the time these numbers came in, spot Bitcoin ETFs collectively held $77.46 billion in assets, with a net asset ratio of 6.06% and historical cumulative inflows at $52.04 billion. Even so, the daily $4.89 million ETF inflow is a fraction of the amounts being shifted around by major treasury holders lately.
Bitcoin Price Falls
All of this is transpiring amidst choppy Bitcoin price action. At the time of writing, the price of the token stands at $64,143.38 with a dip of 0.2% in the last 24-hours as per CoinGecko. The decline is putting a greater focus on the major gap between Bitcoin’s current price and what major corporate holders paid, like Metaplanet’s average of $96,191, far above the current market level, contributing to their paper loss to $1.4 billion. With prices falling, large transfers unfolding, Strategy’s recent sale, and steady ETF inflows, there’s a lot for investors to watch as they try to figure out where the Bitcoin market is heading next.
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