Metaplanet Shifts $186M in Bitcoin to Coinbase Prime

Metaplanet, a company holding over $3.48 billion in Bitcoin, made a series of large transfers to Coinbase Prime on August 31.

The transactions involved moving 2,400 BTC, valued at approximately $186 million, across six separate transfers within three hours.

This move is part of a larger trend of custodial moves totaling at least 4,750 BTC since August 25, according to Metaplanet's CEO Simon Gerovich.

The company has stated that these transfers are not intended for sale and will remain in the company's Bitcoin holdings.