Metaplanet Sends $188M More Bitcoin to Coinbase in 3 Hours

Tokyo‑listed bitcoin treasury firm Metaplanet transferred 2,400 BTC, valued at roughly $186 million, to Coinbase Prime over a three‑hour window on August 31. The move was split into six separate deposits ranging from 103 BTC to 800 BTC.

Transfer Details

The largest single deposit was 800 BTC (about $62 million) followed by five smaller deposits. On‑chain trackers captured each step of the process, confirming the flow into Coinbase’s regulated custody service.

Recent Transfer History

Metaplanet has made multiple sizable deposits to Coinbase Prime in the past week:

• August 25: 1,000 BTC (~$79.8 million)
• August 28: 1,350 BTC (~$108 million)
• August 29: additional activity pushing a 24‑hour total to about 3,000 BTC (~$237 million)

Counting the three distinct transfers, the firm has moved at least 4,750 BTC (~$374 million) to Coinbase Prime custody in under seven days.

Company Holdings and Intent

Metaplanet’s reported balance sheet still shows 43,000 BTC, valued at approximately $3.48 billion, with an average acquisition cost of $96,191 per coin. CEO Simon Gerovich has stated that the transfers are custodial and do not indicate an intention to liquidate.

Strategic Context

The firm has proposed contributing 2,100 BTC and $2.5 million in cash to a new Nasdaq‑listed venture, Superplanet. The proposal requires shareholder approval and regulatory clearance, which may explain the preference for centralized custody ahead of the vote.

Bitcoin’s price has hovered near $78,000, below Metaplanet’s average cost, making any immediate sale financially disadvantageous.