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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%
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 Transfers 4,800 BTC ($377M) to Coinbase Prime Amid Speculation

What happened: Japanese Bitcoin treasury company Metaplanet moved 4,800 BTC (worth $377 million) to Coinbase Prime between August 25 and 29, part of a total 10,270 BTC transferred to the exchange this

Metaplanet Transfers 4,800 BTC ($377M) to Coinbase Prime Amid Speculation

What happened: Japanese Bitcoin treasury company Metaplanet moved 4,800 BTC (worth $377 million) to Coinbase Prime between August 25 and 29, part of a total 10,270 BTC transferred to the exchange this week—over 29% of its reported holdings. The flows triggered speculation of a potential sale or internal "mutiny," but CEO Simon Gerovich publicly described the moves as "routine custody operations," confirming no Bitcoin was sold and that total holdings remain at 43,000 BTC.

Why it matters: Large, visible on-chain transfers by major holders often spark market anxiety, especially when coinciding with price weakness—BTC traded near $79,000–$80,000 during the transfers, below Metaplanet's average buy price of $96,191. While the company insists the moves are custodial, the timing and scale have fueled persistent speculation about internal dissent or preparation for asset sales. The episode highlights the transparency—and rumor sensitivity—of on-chain treasury management.

Source: Cointelegraph