Metaplanet moves 4,800 BTC worth $377M to Coinbase Prime

[Correction, Sept. 9, 10:00 UTC: This article has been corrected to reflect Metaplanet’s previously disclosed holdings of 43,000 BTC, revise the related percentage and aggregate dollar valuation and remove statements implying that the company was selling Bitcoin.]

Japanese Bitcoin treasury Metaplanet moved 4,800 BTC worth nearly $377 million to Coinbase on Aug. 31, according to Arkham Intelligence data.

Metaplanet previously described Bitcoin transfers as routine custody operations. Its latest reported movements do not establish a sale. 

The company also transferred 2,000 BTC worth $155.5 million on Aug. 29, 3,331 BTC worth nearly $266 million on Aug. 28 and 139 BTC worth $11.1 million on Aug. 25, according to Arkham data. In total, these deposits amounted to 10,270 BTC worth approximately $810 million over that period, based on the individual transfer valuations.

On Aug. 12, Metaplanet CEO Simon Gerovich said that the company had moved 5,014 BTC between its custodial addresses as part of a routine custody operation. He said no Bitcoin had been sold and its holdings totaled 43,000 BTC. That statement concerned an earlier set of transfers. 

Metaplanet subsequently reported holding 43,000 BTC as of Aug 18 in a joint announcement with Super League. The reported 10,270 BTC in transfers represent about 23.9% of that balance.