Metaplanet transferred 1,350 Bitcoin worth about $108 million to Coinbase Prime on Aug. 28. The transaction drew attention as BTC struggled to hold above $80,000. However, no company statement or blockchain evidence confirmed a sale of the coins.
Lookonchain reported the movement and identified the sending addresses as Metaplanet wallets. Coinbase Prime supports institutional trading, custody, financing, and collateral services.
Metaplanet had not announced any reduction in its official holdings at the time of reporting. A confirmed disposal would require a company disclosure or further transaction data.
The latest transfer followed another movement of 1,000 BTC to Coinbase Prime on Aug. 25. Lookonchain valued the earlier transaction at $79.77 million. Neither company identified it as a sale.
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Metaplanet made a combined total of 2,350 BTC worth approximately $188 million over four days. This total is equal to about 5.5% of the company’s total holding of 43,000 BTC.
Earlier in August, another wallet activity raised concerns. In a transaction on August 12, Lookonchain found 3,881 BTC leaving Metaplanet’s address. In response, Metaplanet’s CEO, Simon Gerovich, claimed that the company transferred 5,014 BTC between custody wallets without any sale of the digital asset.
The company has maintained its balance of 43,000 BTC after the previous custody update. The firm has revealed an average purchase price of about 15.3 million yen per BTC.
Based on the stated average cost, the company invested an estimated $4.14 billion in its 43,000 BTC. The holdings had a market value of roughly $3.42 billion. The dollar estimates change with Bitcoin’s market price and the yen-dollar exchange rate.
Metaplanet purchased 2,823 BTC in the second quarter at an average price of 12.7 million yen. This purchase increased its treasury position to 40,177 BTC. The company has set a goal of having 210,000 BTC by 2027.
The company announced its financial results on Aug. 13. It reported revenues of 4.94 billion yen for the first half of the year. Its operating profit was 3.33 billion yen. Metaplanet, however, had a net loss of 182.77 billion yen.
According to the filing, most of the losses were due to a decrease of 184.3 billion yen of Bitcoin value. Metaplanet did not sell any BTC during the period. Its income from the Bitcoin segment amounted to 4.74 billion yen from option premiums.
Also, the company has committed to investing a further 2,100 BTC and $2.5 million in Nasdaq-listed Super League Enterprise. This will rename the company into Superplanet and result in ownership of the Japanese company with about a 95.7% equity stake.
The deal is subject to shareholder approval and NASDAQ regulation, with the two firms targeting completion of the deal by the fourth quarter of 2026. None of the parties have related the recent Coinbase Prime payments to the contribution.
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This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
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