Metaplanet moves $108M in Bitcoin to Coinbase Prime

Metaplanet has transferred 1,350 Bitcoin worth about $108 million to Coinbase Prime as BTC struggles to establish a firm break above $80,000. Summary Metaplanet moved 1,350 BTC worth about $108 million to Coinbase Prime. The transaction followed a separate 1,000 BTC transfer completed on Aug. 25. A Coinbase Prime deposit can support trading, custody, or collateral activity and does not confirm a sale. Metaplanet officially reports 43,000 BTC, while its tracked wallets contain about 38,650 BTC. Metaplanet sends another 1,350 BTC to Coinbase Prime Lookonchain reported on Aug. 28 that Metaplanet transferred 1,350 BTC, valued at approximately $108 million, to Coinbase Prime. The on-chain analytics account identified the sending addresses as belonging to the Tokyo-listed Bitcoin treasury company. A transfer to Coinbase Prime can place the assets within reach of institutional trading services, which has led some market participants to question whether Metaplanet could sell part of the position. However, the transaction alone does not prove that a disposal has occurred because Coinbase Prime also offers custody, financing, and collateral services. Metaplanet had not announced a sale or re...