Metaplanet Moves $480M in BTC to Coinbase Prime Amid Plans for US-Based Treasury Initiative
Metaplanet's recent transfer of over $480 million in Bitcoin to Coinbase Prime has sparked curiosity among cryptocurrency enthusiasts. Between August 25 and August 29, the Tokyo-based company moved a total of more than 5,400 BTC to Coinbase Prime, including two separate transactions worth approximately $186 million and $237 million.
CEO Simon Gerovich clarified that these transfers represent custody arrangements rather than preparation for asset liquidation. In fact, Metaplanet's Bitcoin portfolio stands at roughly 43,000 BTC, acquired at a combined cost of approximately $4.09 billion, representing an average entry price near $96,191 per unit.
Metaplanet is developing plans for Superplanet, a proposed US-based Bitcoin treasury initiative that would receive 2,100 BTC plus $2.5 million in capital. This transaction requires shareholder authorization, with voting scheduled for the fourth quarter of 2026.