Is Metaplanet selling bitcoin?

[m2017]

Metaplanet is the third largest bitcoin treasury. Holding around 43000 of bitcoin.

Is the treasury company selling bitcoin as it is moving bitcoin to exchange?

Arkham Intelligence data[/url], Metaplanet transferred 4,800 BTC to Coinbase Prime today, following the company’s transfer of 2,000 BTC worth $155.5 million two days ago, another series of transfers three days ago totaling 3,331 BTC worth nearly $266 million and lastly a transfer from six days ago moving 139 BTC worth $11.1 million. In total, those deposits amounted to 10,270 BTC worth approximately $806.3 million this week alone.

You can read more about it on: https://cointelegraph.com/news/mutiny-metaplanet-moves-4800-btc-worth-377m-to-coinbase

No evidence yet that Metaplanet is selling its bitcoin holding, but it is very possible the treasury company is planning to or has sold some of the coins sent to Coinbase Prime.

What do you think?

Wouldn't such major bitcoin holders  typically execute a large-scale sale off-exchange - directly with the buyer? That is why the transfer of assets to the Coinbase Prime exchange seems to serve a different purpose. For instance, consider the theory mentioned in the article cited above: that it was done to store a portion of the assets. Perhaps they were spooked by the Coldcard incident and moved the funds to a custodial wallet for safekeeping under the provider's responsibility? Yes, I realize many users would disapprove of such a move, but companies like Metaplanet operate differently than typical small-scale BTC-holders.

If Metaplanet actually sold these bitcoins, it clearly didn't have a significant impact on the crypto asset's market price. If they are merely preparing to do so, we will certainly find out the consequences in due time.

In any case, we can only watch these events unfold (specifically the movement of bitcoins) without fully grasping the underlying reasons at this early stage. We are left to speculate and formulate hypotheses.

[YellowSwap]

Should one be worried because metaplanet is selling? It seems like the bottom is already in and whatever is happening or might be happening is all a way to deceive the public.

It's already working and that's why we are talking about it right now, people don't like it when big whales or institutions are selling Bitcoin but they already know the worth of Bitcoin, this fact alone should be enough for everyone.

When institutions are using Bitcoin as their backbone of investment that's all you need to hold onto, not when the sell, they want you to make the wrong choices is why they are even letting the public knows that they selling.

[MArsland]

In addition to being a place to trade in large quantities, Coinbase Prime is also Custody, now Metaplanet may be the goal to store their Bitcoins there in terms of security. But do not rule out that there will be partial plans for sale. If you see the pattern of transferring 1,000 BTC to Coinbase Prime and then sending it again with a larger amount then I tend to want to make Coinbase Prime as custodial arrangements.

[AprilioMP]

No evidence yet that Metaplanet is selling its bitcoin holding, but it is very possible the treasury company is planning to or has sold some of the coins sent to Coinbase Prime.

What do you think?

The owner's chances of selling after transferring to an exchange from a wallet are high. Every action must have a rationale, and those who transfer to an exchange from a wallet know that an exchange is not a place to store their assets.
They likely won't sell the amount they transferred to the exchange all at once. It's reasonable to assume they'll sell gradually to gauge the market's reaction to the price.

[Zlantann]

In addition to being a place to trade in large quantities, Coinbase Prime is also Custody, now Metaplanet may be the goal to store their Bitcoins there in terms of security. But do not rule out that there will be partial plans for sale. If you see the pattern of transferring 1,000 BTC to Coinbase Prime and then sending it again with a larger amount then I tend to want to make Coinbase Prime as custodial arrangements.

Some non-custodial wallets were hacked, and people lost money. With the advancement of the artificial intelligence industry, hackers will keep developing means to exploit loopholes in some decentralised projects. The Coldcard hardware wallet is a typical example of the threat wallets face because of AI.

Metaplanet might be thinking that Coinbase Prime is safe since it holds commercial crime insurance coverage for digital assets held in storage. But they fail to put into consideration that it is not backed by government programs like the FDIC.

https://www.coinbase.com/legal/insurance

[Agbam]

We transferred 5,014 BTC between Metaplanet custodial addresses over the past 24 hours. This was a routine custody operation. No Bitcoin was sold

I have heard crypto companies claim that they moved coins for custodial management operation, but it turned out they were selling. The Japanese Bitcoin treasury company might want to take profits; who knows?

Let’s not conclude based on the movement of coins; besides, Coinbase Prime is not just where they trade, but it’s also a pro Coinbase, according to what they call it, where they help institutional investors and whales. hold their coins, so we can just remove the negative sentiment and believe them until their is a sign they actually sold, but to what point will it be for a company to be selling part of their holding and lie about it at same time.

The movement of the bitcoins is quite large although relatively small compared to their total holdings and the amount of bitcoin moved is why it’s getting this much attention. The CEO has already said they’re not selling but changing how they hold their bitcoin which can be true but a lot of people are still being skeptical thinking it’s for sales.

Yes, there have been some cases where some companies claimed transfers were for custody purposes but later sold, so the skepticism is understandable but until further evidence suggests selling, let’s just take metaplanet for their word.

Another point is Coinbase prime isn’t  just an ordinary exchange, that should be the distinction in this whole case, they’re an institutional platform for custody, trading, managing liquidity and collateral services for institutions and large Investors.

People are just panicking for what it’ll mean if they sold 29% of their holdings but I don’t see that as much cos the bearish movement will only bring more opportunities for us normal guys to accumulate more.

[ObeyKnock]

That has been dealt with head on, by the CEO Simon Gerovich who stated that he called the transfers "custodial" and with the clear understanding that there is no plan to sell. These transactions have made no difference in its holdings with the current number of BTC held remaining unchanged at 43,000. Keep in mind that Coinbase Prime isn't a retail exchange either, but a prime broker Service that is used for the safekeeping and the funding of off-market trades, the deposit of coinbase prime does not represent a time to sell.

[Oshosondy]

That has been dealt with head on, by the CEO Simon Gerovich who stated that he called the transfers "custodial" and with the clear understanding that there is no plan to sell.  of coinbase prime does not represent a time to sell.

According to what I have posted about it, you will notice that Metaplanet has not just started this transfer of the bitcoin to exchange. It has started sending the coins few weeks ago like 2 o 3 weeks ago. This will be what you are referring to.

If the news that Metaplanet CEO said so again was after the this topic, you can give us the link.

According to what I found out about it, what you are talking about was on August 12.

But I did not know about it before.

I hope the Treasury manager is saying the truth.

[ObeyKnock]

According to what I have posted about it, you will notice that Metaplanet has not just started this transfer of the bitcoin to exchange. It has started sending the coins few weeks ago like 2 o 3 weeks ago. This will be what you are referring to.

If the news that Metaplanet CEO said so again was after the this topic, you can give us the link.

According to what I found out about it, what you are talking about was on August 12.

But I did not know about it before.

I hope the Treasury manager is saying the truth.

It is OK to ask for a new source. Every time another bunch of transfers are being noticed, He has made a statement that they are safe keeping and that there are no plans to sell (not only Aug 12 quote, but also the newer this week Aug 25 — Aug 29).

https://www.cryptopolitan.com/metaplanet-4750-btc-coinbase-underwater/

Worth noticing however, is the average cost basis of Metaplanet is closer to $96,191, and BTC has been trading towards $78,000, which means the holding is in loss at the moment. If it did, it would not offer any detail about the sale, but it would certainly be an indicator of actual loss if it did, and therefore would be a reason to pay any attention of all to the official story, custodial they all say.

[avp2306]

That has been dealt with head on, by the CEO Simon Gerovich who stated that he called the transfers "custodial" and with the clear understanding that there is no plan to sell.  of coinbase prime does not represent a time to sell.

According to what I have posted about it, you will notice that Metaplanet has not just started this transfer of the bitcoin to exchange. It has started sending the coins few weeks ago like 2 o 3 weeks ago. This will be what you are referring to.

If the news that Metaplanet CEO said so again was after the this topic, you can give us the link.

According to what I found out about it, what you are talking about was on August 12.

But I did not know about it before.

I hope the Treasury manager is saying the truth.

That move they made is not about planning to sell, but rather they are transferring those funds to a platform which they trust to handle well their funds.

Also read this. Maybe it can give you clear explanation on the actions or decisions they have made.

Metaplanet, the Japanese investment firm, moved 3,881 BTC worth about $247 million between its own wallets on Wednesday, with on-chain data showing no funds were sent to exchanges. The three-hour transfer from cold storage to new self-custody addresses mirrors a similar March move involving roughly 5,000 BTC and reflects standard security practices rather than preparation for a sale. The company holds approximately 43,000 BTC acquired at an average cost of $96,000 per coin, leaving it with an unrealized loss of about $1.4 billion as bitcoin trades near $63,600. Metaplanet has stated ambitions to eventually hold 210,000 BTC, though its near-term accumulation pace has slowed.

So there's nothing to get panic on that transfer they made. They are just provably doing what's the best for their HODL funds after the hacking incident happened on Coldcard.

Anyway you can also read more from this source, since I got that information  from this site https://finance.biggo.com/news/17de0702-2256-419f-9caa-f9a5bd393663

[PostQuantumBTC]

So there's nothing to get panic on that transfer they made. They are just provably doing what's the best for their HODL funds after the hacking incident happened on Coldcard.

Provably? I have only noticed this word on the gambling board of the forum. This is the first time I am seeing it on other board.
Probably you have the word on your keyboard dictionary.

There is nothing Metaplanet is proving, but if you mean probably, that does not also make you right because if Coldcard can be hacked, what makes Coinbase resistant to hack?

What the asset manager are doing is not good. If they can not hold the coins directly, why do they start bitcoin management business.

[YOSHIE]

No evidence yet that Metaplanet is selling its bitcoin holding, but it is very possible the treasury company is planning to or has sold some of the coins sent to Coinbase Prime.

I saw the calm news of Metaplanet moving 4,800 Bitcoins to Coinbase, as far as I know today there is no official news that Metaplanet wants to sell the Bitcoins they have moved.

Like the news I saw today, a statement from the CEO of Metaplanet himself.

Official Explanation: Metaplanet CEO Simon Gerovich emphasized that this large transfer was not a sale. This step is only an adjustment to the storage location or custodian management.

From the official statement from Simon Gerovich, perhaps we can draw one conclusion, personally for 2026 it is impossible for them to sell, the price is still at the level of $78k, it makes sense if they sell it during the upcoming halving 2028 when the price could jump to the level of $150k or more, it makes sense to sell it.

[hd49728]

I saw the calm news of Metaplanet moving 4,800 Bitcoins to Coinbase, as far as I know today there is no official news that Metaplanet wants to sell the Bitcoins they have moved.

Like the news I saw today, a statement from the CEO of Metaplanet himself.

Official Explanation: Metaplanet CEO Simon Gerovich emphasized that this large transfer was not a sale. This step is only an adjustment to the storage location or custodian management.

Coinbase is a most favorite custodian chosen by many Bitcoin Spot ETFs so if Metaplanet choose it as their custodian, it's normal as they only follow other institutions to pick a possible biggest and most trusted custodian, Coinbase.

About purposes behind the transactions, they can say about that or not say about that, there is no compulsory legal condition that forces Metaplanet to talk about that publicly. I am not a lawyer but I think there is no forced legal responsibility on Metaplanet to explain about that. They can sell or buy bitcoin anytime they want without any announcement and explanation to Bitcoin community.

[Cookdata]

The owner's chances of selling after transferring to an exchange from a wallet are high. Every action must have a rationale, and those who transfer to an exchange from a wallet know that an exchange is not a place to store their assets.
They likely won't sell the amount they transferred to the exchange all at once. It's reasonable to assume they'll sell gradually to gauge the market's reaction to the price.

What are we even thinking though? A company that invested billions of dollars to buy Bitcoin didn't do that for fancy, it's strictly a business for profit and they are going to do what they want with their Bitcoin, how they feel and when they want to without public pity. It's their responsibility to make sure the company interest comes before what the public thinks. If the CEO said they didn't sell, that means they didn't and if they did and lied to the public, then it's their loss, another company gained some of that Bitcoin.

Let's assume coinbase prime is buying those large deposits, what are we going to do if Coinbase start making large moves to coinbase exchange or sold to other institutional institutions, there is nothing to do than watch. They invested on Bitcoin to make money, when they make enough they will sell some and when the price is low they will buy more. Good thing about the OTC is transaction does not occur at exchanges else it will be terrible for the price.

[Hamza2424]

I do not even know, but it will be disappointing that some companies are making much decision at the wrong time if the treasury company is selling the coins. I just hope the company is not selling 29% of its bitcoin holding for now. They can sell when the price of bitcoin get to all time high if they have confidence in bitcoin investment.

Nah bro, you should not be disappointed, they own the funds, they can do whatever they want, but I don't think they are selling, because there is no official news, and it is also true a lot of companies are using Coinbase custodial services for long term holdings. There must be benefits in using it, so they are moving their coins to a secure location. That's the only explanation, but I won't speculate more on their movements.

They sell or not, that's their business. Maybe they want to book some profit before the market dumps again, and their plan might be to buy again in the dip, because there are still chances of BTC going below $70k.

[Charles-Tim]

Nah bro, you should not be disappointed, they own the funds, they can do whatever they want, but I don't think they are selling, because there is no official news, and it is also true a lot of companies are using Coinbase custodial services for long term holdings.

Before some other coins were moved recently, there have been some coins moved to Coinbase few weeks ago by Metaplanet. Metaplanet CEO has addressed the selling speculation that the company is not selling any of the coins, that they are only changing how their coins are stored. Who knows if it is the not quite long ago Coldcard vulnerability that cause the company to move to custodial holding.

[Ambatman]

They might have sold some to repurchase some of their shares since they agreed on a buyback
Authorization some time last year
Since the price grew a little more than the year has been playing
They might have sold some to finance this.

This doesn't mean they are selling all their Bitcoins and according to the stats here
https://bitcointreasuries.net/public-companies/metaplanet
It hasn't been proven they sold since they recorded still having same number.

[sokani]

Last month, when it was reported that Metaplanet moved some bitcoins to Coinbase for sell, the CEO debunked the news and called it "routine custody operation."

So it's possible the recent movement is another routine custody task and if he's really telling the truth, it's not such a good idea that Metaplanet gave custody of the coins to an exchange.

[LogitechMouse]

Metaplanet is the third largest bitcoin treasury. Holding around 43000 of bitcoin.

Is the treasury company selling bitcoin as it is moving bitcoin to exchange?
---
No evidence yet that Metaplanet is selling its bitcoin holding, but it is very possible the treasury company is planning to or has sold some of the coins sent to Coinbase Prime.

What do you think?

Metaplanet CEO said in on article that "Bitcoin is not something you sell". Isn't this the same as what Saylor said a few years ago? Well, not the same, but the point is, they don't have plans on selling their Bitcoin holdings, but the other one had already started selling it. The other? Well, it will be in the future.

They're taking advantage of the bear market by accumulating aggressively, and they already bought around 7,000 BTC this year alone putting their holding to around 43,000. If they sell, it will have an impact towards the market not because they sold it, but it will have a negative sentiment towards the investor which will have a negative effect towards the market as well just like what happened when Strategy sold 32 BTC for the first time. It's the same with this one, but overtime, the effect decreases, and investors will come to a point where they don't care about it anymore.

We still don't know what's the reason they made their transfer, but one thing's for sure. With that amount of BTC they're selling, it will have little to no effect towards the price of Bitcoin. The sentiment of the investor will push the price of Bitcoin to even lower prices.

[Patikno]

No evidence yet that Metaplanet is selling its bitcoin holding, but it is very possible the treasury company is planning to or has sold some of the coins sent to Coinbase Prime.

What do you think?

As far as I know, Metaplanet purchased around 2,823 Bitcoin during the second quarter of this year, and I don't think the company plans to sell its holdings anytime soon. Furthermore, Metaplanet began buying Bitcoin in April 2024, and the price back then wasn't vastly different from the current price; consequently, I doubt they would sell just to realize a marginal gain. That differs from a scenario where they have secured substantial profits, like MicroStrategy did; which sold Bitcoin only after achieving significant gains. Well, MicroStrategy might have sold for reasons related to its financial matter,  but I am certain they factored the realized profit into the equation.