Metaplanet Moves $186M in BTC to Coinbase Prime Amid Superplanet Plans
Metaplanet, a Tokyo-listed bitcoin treasury firm, has made its third significant transfer to Coinbase Prime in under a week. On August 31, the company deposited 2,400 BTC, worth approximately $186 million, into the platform within a three-hour window.
The move consisted of six separate transactions ranging from 103 BTC to 800 BTC apiece, with the largest transfer being an 800 BTC deposit worth around $62 million just over half an hour before the rest followed in quick succession. This is not Metaplanet's first or even second trip to Coinbase Prime in the last seven days.
Since August 25, Metaplanet has moved at least 4,750 BTC, worth roughly $374 million, into Coinbase Prime custody. Despite these transfers, the company's official bitcoin holdings have not changed, with its balance sheet still reporting 43,000 BTC valued at approximately $3.48 billion.
Metaplanet's chief executive, Simon Gerovich, addressed speculation earlier this month by stating that the ongoing slew of transfers has been custodial in nature and does not signal 'any intention to liquidate.'