Metaplanet Moves Over $400 Million in Bitcoin to Coinbase Prime, CEO Denies Sell-Off Plans

Metaplanet, the Tokyo listed firm known for its aggressive Bitcoin accumulation strategy, has transferred roughly 2,400 BTC worth about $186 million into Coinbase Prime. The move, split across multiple transactions in late August, raised questions among investors about whether the company was preparing to sell part of its holdings.

CEO Says Transfers Are Custodial, Not a Sale

Shortly after the initial deposits, Metaplanet moved an additional 3,000 BTC worth roughly $237 million into the same platform, bringing total transfers to more than $420 million within a week. CEO Simon Gerovich addressed concerns directly, stating that the transfers are custodial adjustments and do not indicate any plan to liquidate the company’s Bitcoin position. He noted similar internal transfers earlier in August were routine treasury management rather than a signal of selling intent.

A Multi-Billion Dollar Bitcoin Treasury

Metaplanet now holds approximately 43,000 BTC, with an average purchase price near $96,191 per coin. The company has built this position through equity raises, convertible bonds, and operational cash flow, following a strategy similar to that used by major corporate Bitcoin holders in the U.S.

Metaplanet is also proposing to contribute 2,100 BTC and $2.5 million in cash toward Superplanet, a planned Nasdaq-listed Bitcoin treasury platform developed with Super League Enterprises. The proposal requires shareholder approval, with a vote expected in the fourth quarter of 2026.