Metaplanet Sends 2,400 BTC to Coinbase Prime Amid Selloff Concerns

Highlights:

• Metaplanet moved 2,400 BTC worth nearly $186 million to Coinbase Prime, raising concerns about a possible sell-off.
• The company had earlier denied any BTC selling claims and said its previous transfers involved custody management.
• Metaplanet shares have fallen nearly 10% today amid the sell-off concerns.

Metaplanet transferred 2,400 BTC worth nearly $186 million to Coinbase Prime today, according to data provided by Lookonchain. The transaction raised sell-off concerns because Metaplanet moved a large Bitcoin position while the price of BTC remains under pressure. However, the company previously said similar Coinbase Prime transfers are meant to support custody operations and are not Bitcoin sales.

Bitcoin miner Metaplanet (@Metaplanet), which bought 43,000 ($3.48B) at an average price of $96,191, deposited another 2,400 ($186M) into Coinbase Prime in the past 3 hours.https://t.co/HGljOETBsX pic.twitter.com/oJENwomb0z

— Lookonchain (@lookonchain) August 31, 2026

The transaction carried by the treasury firm showed a deposit into the custody firm but does not provide evidence that Metaplanet sold the 2,400 BTC. Metaplanet has previously discussed lending some Bitcoin to generate income that could help cover operating expenses.

Metaplanet currently holds about 43,000 BTC as of press time. The firm has built that position through Bitcoin purchases funded by equity offerings, convertible debt, and business revenue. Its reported average purchase price stands near $96,191 per Bitcoin. The BTC holdings of the company currently carry a reported market value of about $3.36 billion, according to current market prices.

More Metaplanet BTC Moves Draw Attention

The deposit made today follows several other large Bitcoin movements made by the company in the last few days of this month. Metaplanet moved roughly 2,400 BTC across two separate transactions on August 25 and August 28. The movements carried a combined value of about $186 million and went to Coinbase Prime.

Metaplanet then transferred another 3,000 BTC worth roughly $237 million to Coinbase Prime on August 29. Onchain Lens also reported another 800 BTC deposit worth approximately $62.2 million. Similar concerns of a sell-off emerged earlier in August when Metaplanet moved more than 5,000 BTC between its internal custody wallets. Simon Gerovich, the CEO of the company, said those movements reflected routine treasury management rather than a sale of its Bitcoin holdings.

We transferred 5,014 BTC between Metaplanet custodial addresses over the past 24 hours. This was a routine custody operation. No bitcoin was sold, and our holdings remain 43,000 BTC.

All of our addresses are published, which is why the transfers were observable in real time.…

— Simon Gerovich (@gerovich) August 12, 2026

In a separate development, Wintermute, a London-based trading firm, has transferred about 5,100 BTC worth nearly $400 million to Binance over the past two days.

WINTERMUTE MOVES ~$400M bitcoin:native TO BINANCE

Wintermute transferred 5.10K bitcoin:native (~$399.03M) to Binance over the past two days. pic.twitter.com/VqFlh4U3M6

— Onchain Lens (@OnchainLens) August 31, 2026

On the other hand, Strategy, led by Michael Saylor, has hinted that the company is back to its buying spree after pausing buying BTC for several weeks. The company had shifted focus to increasing its cash reserves and establishing new cash pool reserves. The company has not confirmed any buys as of press time.

We’re ₿ack. pic.twitter.com/ciqOaCa908

— Michael Saylor (@saylor) August 30, 2026

Shares Drop Nearly 10% Before US Expansion

Metaplanet shares are down 9.83% today amid BTC sell-off concerns in the market. The Tokyo-listed stock is trading between a daily low of 309 yen and a daily high of 324 yen during the current session. The stock has remained about 33% lower year-to-date despite gaining roughly 58% during the previous several weeks.

Despite the concerns in the market, Metaplanet has hinted at expanding its base. The company recently proposed contributing 2,100 BTC and $2.5 million in cash to establish Superplanet in the United States. Metaplanet plans to establish the venture with Super League Enterprises as a US-domiciled Bitcoin treasury company. Metaplanet expects shareholders to vote on the proposed Bitcoin contribution during the fourth quarter of this year.