Japanese company Metaplanet transferred 1,000 BTC to the Coinbase Prime Custody platform on August 25. The value of the transferred assets at the time of the operation was estimated at approximately $79.77 million. The transfer followed Metaplanet's announcement that its cumulative Bitcoin reserves had reached 43,000 BTC. Transaction data was published by the Lookonchain service and the information was disseminated by Bitcoin.com News. Moving coins to Coinbase Prime does not in itself indicate a sale: corporate holders may use specialized custody services to store digital assets and conduct subsequent operations.
According to Lookonchain, the average acquisition cost of Bitcoin in Metaplanet's portfolio is approximately $96,191 per coin. The total value of 43,000 BTC at this estimate reaches approximately $4.09 billion. Thus, the transfer of 1,000 BTC represents a portion of an already established corporate reserve, rather than a separate open-market purchase. Metaplanet has been consistently increasing the volume of digital assets it holds: at the end of Q4 2024, the company held 1,761 BTC, while its reserves subsequently grew to tens of thousands of coins.
The company recently announced the acquisition of an additional 2,823 BTC for approximately $225 million, bringing its total reserves to 43,000 BTC. This has made Metaplanet one of the largest publicly listed corporate Bitcoin holders in the world. The company employs various financing mechanisms to expand its cryptocurrency reserves, including share placements and structured instruments tied to its own securities. Metaplanet has also stated a long-term goal of increasing its Bitcoin holdings to 210,000 BTC by the end of 2027.
The transfer of coins to Coinbase Prime may be related to several corporate objectives, including regulated custody of digital assets, preparation for over-the-counter operations, or the use of Bitcoin within the framework of other company transactions. In particular, Metaplanet previously entered into an agreement with American company Super League Enterprise, providing for the transfer of 2,100 BTC to establish a dedicated structure called Superplanet. The specific purpose of the 1,000 BTC transfer to Coinbase Prime in this instance has not been publicly disclosed. Therefore, the fact of the transfer alone does not allow for the conclusion that the company intends to sell the assets.
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This material is prepared exclusively for informational purposes and does not constitute financial advice or a recommendation.