Metaplanet has moved another large batch of Bitcoin, drawing fresh attention from crypto investors who track corporate BTC accumulation strategies. According to blockchain analytics platform Lookonchain, the Japanese Bitcoin-focused company deposited 1,350 BTC — valued at approximately $108 million — into Coinbase Prime roughly one hour before the movement was reported on August 28, 2026.

Bitcoin miner Metaplanet ( @Metaplanet ), which bought 43,000 $BTC ($3.48B) at an average price of $96,191, deposited another 1,350 $BTC ($108M) into Coinbase Prime an hour ago. pic.twitter.com/JimnSZu2k7

— Lookonchain (@lookonchain) August 28, 2026

Metaplanet Transfers 1,350 BTC to Coinbase Prime

On-chain data shared by Lookonchain shows the transfer took place about one hour before the report's release. At market rates on the date of the transaction, the moved Bitcoin was worth approximately $108 million.

The deposit follows a succession of aggressive acquisition bids that have made Metaplanet one of the most closely watched public digital asset companies. The firm's reported treasury now stands at 43,000 BTC, bringing the overall value of its acquisitions to approximately $3.48 billion and ranking Metaplanet among the biggest corporate Bitcoin holders in the world. The purchases were made at an average price of $96,191 per BTC.

The scale of that build-out is unusual for a company that began as a hotel operator before pivoting to a Bitcoin-first treasury policy in 2024. Metaplanet's shares trade on the Tokyo Stock Exchange, and the firm is widely described as the largest publicly listed corporate Bitcoin holder in Asia, making it the closest regional counterpart to Strategy in the United States.

Large transfers of this kind tend to attract notice because Coinbase Prime is popular among asset managers, corporations, institutional investors, and public companies for custody, execution, and treasury services.

Corporate Bitcoin Holdings Continue to Expand

Metaplanet is a notable example of the emerging trend of corporations using Bitcoin as a treasury asset. A handful of publicly listed companies have begun dedicating part of their balance sheets to Bitcoin, following the example of Strategy (formerly MicroStrategy), which holds the largest corporate Bitcoin treasury of any public company.

Metaplanet has financed much of its accumulation through bond issuances and warrant-linked equity raises rather than operating cash flow, with proceeds earmarked for further Bitcoin purchases. In Japan, accounting rules updated in 2025 also measure corporate crypto holdings at market value through earnings, so balance-sheet Bitcoin swings now flow directly into the reported results of listed firms such as Metaplanet.

Metaplanet's mean acquisition price of $96,191 per BTC implies that its coins were bought in chunks during Bitcoin's recent bull market. For the majority of 2026, Bitcoin has been trading above that level, and Metaplanet currently holds one of the biggest institutional positions in the cryptocurrency.

Why Coinbase Prime Is Commonly Used

A transfer to Coinbase Prime does not automatically imply a sale. Institutional entities often use the platform to custody assets, post collateral, engage in over-the-counter trading, arrange loans, or rebalance portfolios.

Because Coinbase Prime handles large trading and processing volumes, substantial BTC deposits are not necessarily coins functioning in the open market.

Bitcoin Treasury Race Gains Momentum

The latest transfer highlights the scale at which corporate Bitcoin adoption is now operating. A single movement of 1,350 BTC represents more than $100 million in digital assets, yet it accounts for only a small fraction of Metaplanet's overall holdings — roughly 3% of its 43,000 BTC treasury.

As more public companies continue to accumulate Bitcoin, on-chain movements from major treasury holders are increasingly becoming key indicators for market participants. While the purpose behind this specific transfer remains undisclosed, the transaction underscores the growing sophistication of institutional Bitcoin management and the expanding role of regulated crypto infrastructure providers in supporting large corporate treasuries. With no stated reason for the deposit, attention now shifts to Metaplanet's own disclosures to clarify whether the coins were moved for custody, financing, or trading purposes.

Source: Crypto Ninjas