Metaplanet transferred 1,000 Bitcoin, worth approximately $79.77 million, to Coinbase Prime on Aug. 25, according to blockchain analytics account Lookonchain. The movement was described as a deposit into Coinbase Prime, a platform that provides institutional trading, financing and custody services. Analysts cautioned that the transfer alone does not confirm a sale, as Bitcoin held in a Coinbase Prime account could remain under Metaplanet’s beneficial ownership. The company has not issued an official treasury update, and neither Metaplanet nor Coinbase identified the movement as a sale.
The transfer follows earlier speculation about Metaplanet’s 43,000 BTC treasury. On Aug. 12, CEO Simon Gerovich said the company moved 5,014 BTC between custodial addresses without selling any coins, and its reported holdings remained unchanged. Lookonchain noted that Metaplanet bought 43,000 BTC at an average price of about $96,191, giving the position an estimated acquisition cost of approximately $4.14 billion. At current market prices, the holding was valued near $3.48 billion.
In a related development, Nasdaq-listed Super League Enterprise sold 475,598 shares for approximately $2.23 million in gross proceeds through its first at-the-market stock offering since announcing a deal that would turn the company into Metaplanet’s U.S. Bitcoin treasury platform. The company has opened another $2.27 million of capacity under the ATM program, with Benchmark and StoneX acting as agents and receiving a 1% commission on gross proceeds from completed sales.
Metaplanet’s planned investment in Super League remains subject to closing conditions. The Japanese treasury company has agreed to contribute 2,100 BTC and $2.5 million in cash for a controlling interest in Super League. Valued at approximately $134.6 million when the agreement was signed, the investment would give Metaplanet 44,859,400 newly issued common shares priced at $3 apiece, preferred shares and warrants. The Bitcoin portion was valued at roughly $132.1 million using BTC’s closing price on Coinbase at 4 p.m. New York time on Aug. 14. After closing, Super League is expected to take the name Superplanet and trade on Nasdaq under the ticker SUPA. Metaplanet CEO Simon Gerovich said: “Superplanet is how we build in America, the deepest capital market in the world.” The transaction is expected to close in the fourth quarter of 2026, subject to shareholder approval and regulatory requirements in the United States and Japan.
