Metaplanet moves $377M Bitcoin to Coinbase

• Metaplanet moved 4,800 Bitcoin worth nearly US$377 million to Coinbase Prime.
• The company transferred 10,270 BTC worth about US$806.3 million this week.
• The purpose remains unconfirmed, with custody and a possible sale both discussed.

Metaplanet moved 4,800 Bitcoin (CRYPTO:BTC) worth nearly US$377 million to Coinbase Prime.

The transfer followed 2,000 BTC worth US$155.5 million and 3,331 BTC worth nearly US$266 million.

Cointelegraph reported no conclusive evidence that Metaplanet intends to sell the transferred Bitcoin.

Arkham Intelligence data showed four transfers totalling 10,270 BTC, worth about US$806.3 million, during the week.

Metaplanet reported 35,102 BTC worth about US$2.75 billion, meaning the transfers equal more than 29% of its holdings if sold.

Following the announcement, the Metaplanet share price was down 9.83% at ¥312 on August 31.

The transfers came as Capital B raised €21 million through a private share placement to acquire 270 Bitcoin.

At the time of reporting, Bitcoin price was $78,377.48.