Metaplanet Moves Big Chunk of Bitcoin Holdings to Coinbase

Metaplanet, Japan's fourth-largest corporate Bitcoin treasury company, has made significant transfers to Coinbase Prime this week. The company moved 10,270 BTC worth approximately $806.3 million in total.

Of these transactions, 4,800 BTC valued at nearly $377 million were transferred today alone. This is a substantial portion of Metaplanet's reported holdings, which amount to 35,102 BTC worth around $2.75 billion.

This sale represents over 29% of the company's total Bitcoin holdings. The move follows news that Capital B, a French Bitcoin treasury company, raised €21.0 million ($24.5 million) through a private share placement to acquire 270 BTC.

Metaplanet is not alone in selling its holdings; smaller treasury companies have been doing the same recently. If these transfers are confirmed to be sales, it would be a notable development in the industry.