The chain data shows that Japanese listed company Metaplanet transferred bitcoin to Coinbase Prime again. The latest one, 1350 BTCs, was approximately $108 million at current prices. Since Coinbase Prime also provides transaction, hosting and collateral services, the transfer itself does not prove that the company has sold Bitcoin.

Cumulative transfer of 2350 BTCs within four days

Lookonchain disclosed the transfer on August 28 and marked the transfer address as Metaplanet-related wallet. Prior to August 25, the company had transferred 1,000 BTCs. The total of the two transfers amounted to 2350 BTCs, which, at the time of transfer, amounted to nearly $188 million.

At the company level of disclosure, Metaplanet had not announced that bitcoin had been withheld or sold as of the time of publication. Further corporate disclosure or a clearer follow-up flow along the chain would also be required to confirm disposal.

Previous transfers were interpreted as hosting adjustments

Similar large transfers had previously raised market concerns. On August 12, Lokonchain discovered that 3881 BTC wallets related to Metaplanet had been transferred. Subsequently, CEO Simon Gerovich stated that the company had transferred 5014 BTCs between different hosting addresses and had not sold them.

This also indicates that it is difficult to judge the purpose of the transaction directly by simply moving to the address label. Chain records confirm the transfer of assets, but do not necessarily indicate the legal attribution of the receiving account and whether the funds are intended for sale, hosting adjustments or collateralization.

The official hold is still 43,000 bitcoins.

The company disclosed that Metaplanet purchased 2823 BTCs in the second quarter at an average purchase price of 12.7 million yen per item. By the time of disclosure on 2 July, the company ' s total holding warehouse had risen to 43,000 BTCs, at an overall average cost of approximately Yen153.3 million per unit.

Arkham marked wallets currently hold approximately 38.65 million BTCs, lower than the company declared 43,000. This difference does not, however, provide a direct indication that the company has sold the currency, as the chain analysis platform may not be able to fully identify all the custodian accounts or related addresses.

As disclosed by the company, Metaplanet plans to raise the holding stock to 210,000 BTCs by 2027, or approximately 1 per cent of the fixed total supply of bitcoin.

Half a year of growth but net loss. Loss

Corporate disclosures revealed that, as of 30 June, Metaplanet had earned 49.44 billion yen, an increase of 133.7 per cent over the same period; and operating profits of 33.3 billion yen, an increase of 136.3 per cent over the same period.

However, the company recorded a net loss of 18,277 million yen during the same period. According to the document, the main reason for this was the decrease in the carrying value of the Bitcoin warehouse account by JPY 184.3 billion, which was partly for non-cash items. At the same time, the company indicated that no bitcoin was sold during the reporting period.

The operational income from its bitcoin earnings is 47.44 billion yen, of which approximately 45.80 billion yen comes from the right-of-promise pension. This means that some of the company ' s revenues come from treasury operations, rather than relying solely on higher prices of bitcoin.

Some bitcoin has been used in US trading arrangements.

Metaplanet is also promoting a deal with the American stock company Super League Enterprise. Under the agreement published on 18 August, Metaplanet would invest 2100 BTC and $2.5 million in cash, with an initial investment valuation of approximately $134.6 million.

Upon completion of the transaction, Super League is to be renamed Superplanet and NASDA code is to be changed to SUPA. Designed in accordance with the agreement, Metaplanet is expected to receive a general, transferable and equity shareholding of approximately 95.7 per cent.

Additional information:It was also mentioned that bitcoin was in the vicinity of $80 million and that the market was also following the movement of the corporate treasury. At the same time, Strategy did not increase or decrease its bitcoin during the period from 17 to 23 August and maintained its hold on 84.0447 million.