Metaplanet Makes Huge Bitcoin Transfers to Coinbase

Metaplanet, the fourth-largest corporate Bitcoin (BTC) holder, has made several large transfers to Coinbase over the past week. The company moved 4,800 BTC worth nearly $377 million to Coinbase today, following previous transfers totaling 10,270 BTC worth approximately $806.3 million this week alone.

This represents a significant reduction in Metaplanet's holdings, which are currently valued at $2.75 billion and consist of 35,102 BTC. If confirmed to be a sale, the transfers would reduce the company's holdings by over 29%.

The transfer follows a trend seen among smaller treasury companies, with some selling their holdings. In contrast, French Bitcoin treasury company Capital B appears to be moving in the opposite direction, announcing that it successfully raised €21.0 million ($24.5 million) through a private share placement to acquire 270 BTC.