Metaplanet Sends 1,000 Bitcoin to Coinbase Prime, Prompting Sale Speculation

Metaplanet, the Japanese corporate Bitcoin treasury company, transferred an additional 1,000 Bitcoin worth about $79.77 million to Coinbase Prime, prompting speculation that it may be preparing to sell.

On-chain analytics platform Lookonchain said on August 25 that Metaplanet deposited 1,000 BTC into Coinbase Prime about an hour earlier. The transfer was worth about $79.77 million at the time.

Metaplanet has purchased a total of 43,000 BTC at an average price of $96,191, for cumulative purchases of about $3.48 billion.

Transfers to exchanges or institutional trading platforms are often interpreted as a sign of a potential sale. Still, the latest transfer alone does not confirm whether Metaplanet actually sold any Bitcoin.