Metaplanet transfers 3,000 Bitcoin worth $237M to Coinbase Prime

Metaplanet, Japan’s most prominent corporate Bitcoin holder, moved 3,000 BTC to Coinbase Prime on August 29, a transfer valued at roughly $237 million. It’s the latest in a series of large-scale movements that have sent over 2,350 BTC to the same destination in August alone, raising eyebrows across crypto markets even as the company maintains it hasn’t sold a single sat. For a firm sitting on 43,000 BTC with an average cost basis of $96,191 per coin, that’s a lot of Bitcoin changing addresses. The total haul represents about $4.09 billion in accumulated value, making Metaplanet one of the largest corporate Bitcoin treasuries on the planet. A busy month of transfers The August 29 transfer didn’t come out of nowhere. Metaplanet moved 1,000 BTC, worth approximately $79.77 million, to Coinbase Prime on August 25. Three days later, another 1,350 BTC followed, valued at around $108 million. And if you rewind to mid-August, there was an even larger movement: 5,000 BTC shifted on August 12. CEO Simon Gerovich addressed that one directly, calling it a custodial adjustment rather than a sale. Why the market didn’t flinch Perhaps the most telling detail in all of this: Bitcoin’s price barely ...