Metaplanet Transfers 1,350 BTC to Coinbase Prime Custody

Metaplanet has moved 1,350 BTC from its known wallets to Coinbase Prime Custody in several transactions. The transfer has sparked renewed speculation about Metaplanet's plans for its treasury, which currently holds 43,000 BTC. This is the second time this month that Metaplanet has transferred large amounts of BTC, but so far, there have been no sales.

The funds were sent to Coinbase Prime Custody, which may be an internal move to reorganize and diversify storage. Some of the transfers are linked to Metaplanet's US-based treasury, Superplanet, which is set to receive 2,100 BTC. This has led some to wonder if Metaplanet is expecting a recovery in the market.

Metaplanet's MTPLF stock has shown signs of recovery, with a short-term rebound in value. The company bought 7,898 BTC this year, with an average price of $97,593 per coin. This purchase was made during the recent dip to the $60,000 range.