Japanese bitcoin treasury company Metaplanet transferred 1,000 BTC, valued at approximately $79.77 million, into Coinbase Prime. The transfer occurred just days after the company reported that its total bitcoin holdings had reached 43,000 BTC, suggesting the moved coins were part of existing reserves rather than a fresh open-market purchase.
According to Lookonchain and Metaplanet's disclosed disclosures, the firm's average cost basis for its 43,000 BTC position sits near $96,191 per coin, representing an aggregate cost basis of about $4.09 billion.
Metaplanet has expanded its reserves rapidly over the past two years, growing from 1,761 BTC at the end of the fourth quarter of 2024 to 40,177 BTC within 24 months. Recent acquisitions, including a purchase of 2,823 bitcoins for $225 million, helped the firm reach its current 43,000 BTC threshold. This positions Metaplanet as Asia's largest publicly traded bitcoin holder and places it among the largest corporate holders globally, trailing Strategy Inc. and a small group of peers. The company has maintained an accumulation goal of 210,000 BTC by the end of 2027, funding its purchases primarily through equity issuances and structured products tied to its share price.
Market participants often monitor large transfers to exchange platforms like Coinbase Prime. Such transactions are not inherently a direct sell play; they can be utilized for regulated custody, over-the-counter execution for future purchases, or facilitating corporate transactions. For example, Metaplanet previously agreed to contribute 2,100 BTC to Nasdaq-listed Super League Enterprise to form a dedicated U.S. treasury platform named Superplanet, in which Metaplanet holds approximately 95.7% of outstanding shares.
