Metaplanet Stock Drops 9% After Moving Another 2,400 BTC to Coinbase

Metaplanet stock fell nearly 10% on Monday after the company transferred another 2,400 Bitcoin to Coinbase Prime. The transaction was valued at about $186 million based on Bitcoin’s market price at the time.

The latest wallet movement came days after another large BTC transfer by the company. This led to renewed attention from crypto investors. The transfer also arrived as Bitcoin price traded below recent highs and broader market sentiment remained cautious.

Bitcoin News: Metaplanet Transfers 2,400 BTC to Coinbase Prime

Metaplanet transferred 2,400 BTC to Coinbase Prime on August 31, according to blockchain data tracked by Arkham Intelligence. The transaction was worth approximately $186 million at the time it was recorded on-chain.

The receiving address belongs to Coinbase Prime, an institutional custody and trading platform used by companies and large investors. The transfer immediately attracted attention because Coinbase wallets often receive assets before institutional trading or custody activity.

The latest Bitcoin news followed another large Bitcoin movement by Metaplanet during the previous week. The company had already transferred Bitcoin worth about $108 million to Coinbase Prime while Bitcoin traded above the $80,000 level.

Market participants closely monitored both transactions because they involved thousands of Bitcoin moving from corporate treasury wallets.

Metaplanet has previously stated that transfers to Coinbase Prime should not automatically be viewed as Bitcoin sales. The company has used Coinbase’s institutional services for custody and treasury management.

Despite those earlier statements, the new transfer created fresh speculation in the crypto market as Bitcoin prices moved lower during the same trading session.

Metaplanet Stock Falls Nearly 10%

Metaplanet shares closed at 312 Japanese yen on Monday, representing a decline of about 9.83% during the trading day. The stock traded between 309 yen and 324 yen before the market closed.

Trading activity increased sharply as investors reacted to the latest Bitcoin transfer and weaker cryptocurrency prices. Daily trading volume reached about 38.78 million shares. That’s well above the company’s recent average trading volume of around 25 million shares.

The decline reduced part of the stock’s recent gains after a strong rally over the past few weeks. Even after that earlier recovery, the company’s year-to-date share performance remained in negative territory.

Metaplanet has built one of the world’s largest corporate Bitcoin treasuries. The company currently holds about 43,000 BTC that were purchased for roughly $4.41 billion.

Based on current Bitcoin prices, the value of those holdings stands below the company’s total purchase cost. That places the treasury position at an unrealized loss of more than $1 billion according to current market prices.

Bitcoin Price Trades Below $80,000

Bitcoin price traded around $78,000 after falling more than 3% from recent highs above $81,000. The decline came during a period of increased selling pressure across the cryptocurrency market.

Large wallet transfers became a major focus for traders throughout the session. Investors monitored movements from corporate treasuries and market-making firms for signs of changing market activity.

Wintermute also moved a large amount of Bitcoin to Binance over the past two days. Blockchain tracking data showed the crypto market maker transferred about 5,100 BTC, valued at nearly $400 million, to the exchange.

The activity drew additional attention because Wintermute was also reported to hold short positions across several cryptocurrencies. That included Ether, Solana, XRP, Hyperliquid, and Dogecoin.