Mutiny? Metaplanet moves 4,800 BTC worth $377M to Coinbase
The Japanese Bitcoin treasury company has transferred 10,270 BTC to Coinbase Prime this week, an amount equal to more than 29% of its reported holdings.
Metaplanet, the fourth-largest corporate Bitcoin treasury, has transferred 4,800 BTC worth around $377 million to Coinbase in a move that has raised speculation of a potential sale of its holdings. The company, which holds 35,102 BTC worth $2.75 billion, has been making a series of transfers in recent weeks. On Tuesday, Metaplanet moved 2,000 BTC worth $155.5 million, followed by three days ago's transfer of 3,331 BTC worth nearly $266 million and six days ago's transfer of 139 BTC worth $11.1 million.
In total, these deposits this week amount to 10,270 BTC worth about $806.3 million. If confirmed as a sale, the transfers would reduce Metaplanet's holdings by over 29%. This follows news that French Bitcoin treasury company Capital B is raising €21.0 million ($24.5 million) through a private share placement to acquire 270 BTC, but Metaplanet is following the broader industry trend of smaller treasury companies recently selling their holdings.
Written by urgent.news from Cointelegraph's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
