Mutiny? Metaplanet moves 4,800 BTC worth $377M to Coinbase
Summary
Metaplanet transferred 4,800 BTC, worth about $377 million, to Coinbase Prime today, adding to a series of large deposits this week. Recent transfers included 2,000 BTC two days ago, 3,331 BTC three days ago, and 139 BTC six days ago, bringing total deposits to 10,270 BTC, or roughly $806 million, in the past week. Because Metaplanet holds 35,102 BTC worth about $2.75 billion, a confirmed sale could cut its treasury by more than 29%. The move has fueled speculation that the company may be selling, amid a broader trend of some smaller Bitcoin treasury firms trimming holdings, even as others, like Capital B, are raising capital to buy more BTC.
