Metaplanet moves $420M+ in Bitcoin to Coinbase Prime

Metaplanet moved 5,400+ BTC ($420M+) to Coinbase Prime for custody, not selling. The firm holds 43,000 BTC and is launching a US-based Bitcoin treasury project, Superplanet.

Metaplanet transferred over 5,400 BTC, valued at more than $420 million, to Coinbase Prime between August 25 and August 29. The transfers included transactions of 2,400 BTC ($186M), 3,000 BTC ($237M), and an additional 800 BTC ($62.2M). While some reports speculated these movements signaled potential selling, Metaplanet clarified that the transactions are strictly custodial and not related to asset liquidation. The company emphasized that such transfers are routine for institutional holders. Currently, Metaplanet holds approximately 43,000 BTC, acquired at a total cost of about $4.09 billion, with an average purchase price of $96,191 per coin. The firm is also advancing its US-based Bitcoin treasury initiative, Superplanet, which will receive 2,100 BTC and $2.5 million in capital. Despite the large transfers, the cryptocurrency market remained stable.