Metaplanet Moves Hefty Portion of Holdings to Coinbase Prime Amid Speculation
Japanese Bitcoin treasury company Metaplanet has made significant transfers of its holdings to Coinbase Prime, sparking speculation about potential sales. Over the past week, Metaplanet moved a total of 10,270 BTC worth approximately $806 million, with a substantial portion being transferred today.
The latest transfer saw 4,800 BTC, valued at nearly $377 million, move into Coinbase Prime's coffers, following previous transfers totaling 2,000 BTC and 3,331 BTC. This brings Metaplanet's total deposits to the exchange this week alone to over $806 million.
The news comes as Capital B, a French Bitcoin treasury company, announced it had raised €21.0 million ($24.5 million) through a private share placement to acquire 270 BTC, moving in the opposite direction of Metaplanet's actions. If confirmed, the transfers would reduce Metaplanet's holdings by over 29%.