Metaplanet Unloads $377M in Bitcoin Holdings on Coinbase Prime

Metaplanet, Japan's fourth-largest corporate Bitcoin treasury, has moved a significant portion of its holdings to Coinbase Prime. The company transferred 4,800 BTC worth nearly $377 million today, following a series of smaller transfers earlier this week.

Totaling 10,270 BTC, these deposits amount to more than 29% of Metaplanet's reported holdings. This has sparked speculation that the company may be selling its Bitcoin holdings, although no official confirmation has been made.

Metaplanet holds a total of 35,102 BTC worth $2.75 billion in its coffers. The transfers come as other corporate treasuries are also adjusting their positions, with some smaller companies recently selling their holdings.