Metaplanet Stock: Why the Company Moved $480M in Bitcoin to Coinbase Prime

TLDR

• Metaplanet transferred over 2,400 BTC worth around $186M to Coinbase Prime across August 25 and 28, followed by a 3,000 BTC transfer worth $237M on August 29.
• A further 800 BTC worth $62.2M was deposited to Coinbase Prime, bringing total transfers to the platform to over 3,200 BTC since late August.
• CEO Simon Gerovich confirmed the moves are custodial in nature, not a signal to sell.
• Metaplanet holds approximately 43,000 BTC with a total cost basis of around $4.09B, averaging roughly $96,191 per coin.
• The company is also advancing plans for a US-listed Bitcoin treasury venture called Superplanet, involving a contribution of 2,100 BTC and $2.5M in cash.

Metaplanet moved more than $420M worth of Bitcoin into Coinbase Prime in less than a week, and the crypto market barely blinked.

Bitcoin miner Metaplanet (@Metaplanet), which bought 43,000 ($3.48B) at an average price of $96,191, deposited another 2,400 ($186M) into Coinbase Prime in the past 3 hours.https://t.co/HGljOETBsX pic.twitter.com/oJENwomb0z

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