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BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
09/01/2026

Metaplanet Moves 4,800 BTC ($377M) to Coinbase Prime—CEO Denies Sale

What happened: Japanese Bitcoin treasury firm Metaplanet transferred 4,800 BTC (about $377 million) to Coinbase Prime, part of a week-long series totaling 10,270 BTC—roughly 29% of its reported holdin

Metaplanet Moves 4,800 BTC ($377M) to Coinbase Prime—CEO Denies Sale

What happened: Japanese Bitcoin treasury firm Metaplanet transferred 4,800 BTC (about $377 million) to Coinbase Prime, part of a week-long series totaling 10,270 BTC—roughly 29% of its reported holdings. CEO Simon Gerovich publicly clarified the transfers were custodial adjustments, not a prelude to selling. Metaplanet is the fourth-largest corporate BTC holder, with 35,102 BTC (~$2.75 billion), but its cost basis is ~$96,191 per BTC—well above current prices.

Why it matters: The large-scale transfers triggered market speculation of a potential liquidation, amplified by Metaplanet’s underwater position. The CEO’s denial aims to reassure investors, but the move highlights the risks and scrutiny facing corporate treasuries with significant crypto exposure, especially when their holdings are deeply in the red.

Source: Cointelegraph