Metaplanet Transfers 1,000 BTC to Coinbase Prime Custody
Japanese bitcoin custody giant Metaplanet transferred another 1,000 BTC, worth approximately $79.77 million, to Coinbase Prime on August 25. This follows the company's recent disclosure of holdings totaling 43,000 BTC, and the transfer suggests these are existing coins, not a new market purchase. According to Lookonchain, the average purchase price for Metaplanet's BTC holdings is $96,191 per coin, valuing its total portfolio at roughly $4.09 billion.
The company's accumulation has accelerated rapidly over the past two years, growing from 1,761 BTC at the end of Q4 2024 to over 40,000 BTC recently. A recent purchase of 2,823 BTC solidified its position as Asia's largest publicly traded bitcoin holder. Funding has primarily come through equity issuance and structured products linked to its stock price, with an ambitious goal to hold 210,000 BTC by the end of 2027.
The transfer to the exchange's custody service may not indicate an immediate sale but could be for regulated custody, facilitating over-the-counter trades, or enabling corporate transactions. For instance, Metaplanet recently agreed to contribute 2,100 BTC to Nasdaq-listed Super League Enterprise to form a new US treasury platform. With bitcoin's price still below Metaplanet's average cost basis, market participants are closely watching how these custody moves will support the company's long-term accumulation strategy.
cryptonews.ru08/25 20:59