Metaplanet Transfers $186 Million in Bitcoin to Coinbase Prime
- Metaplanet transferred 2,400 BTC, valued at approximately $186 million, to Coinbase Prime on August 31.
- The transfer was completed in six transactions within three hours, with the largest single transfer being 800 BTC, worth about $62 million.
- Since August 25, Metaplanet has moved at least 4,750 BTC into Coinbase Prime custody.
- CEO Simon Gerovich stated these transfers are custodial and not indicative of plans to liquidate.
- Metaplanet maintains its reported holdings of 43,000 BTC, valued at around $3.48 billion.
Metaplanet’s recent activity highlights significant custodial movements without reducing its overall bitcoin holdings. These transactions align with a potential strategic shift involving a new venture called Superplanet, although no immediate liquidation is planned according to CEO Simon Gerovich.
Despite transferring substantial amounts of BTC into Coinbase Prime custody, Metaplanet’s official bitcoin balance remains unchanged at 43,000 BTC. This suggests a focus on maintaining liquidity rather than selling assets at this time.
