METAPLANET MOVES 1,000 BITCOIN TO COINBASE PRIME — AND IT ISN’T SELLING

Metaplanet moved 1,000 bitcoin — $79.77 million — into Coinbase Prime custody on Aug. 25, and it is not a sell. The transfer reads as regulated custody and over-the-counter plumbing for future purchases, not an exit. The Tokyo-listed accumulator holds 43,000 BTC at an average cost of $96,191 a coin — well above Tuesday’s roughly $79,000 spot — and has run its stack from 1,761 BTC at the end of 2024 toward a stated target of 210,000 by the end of 2027. The Capitalist read: the machine is underwater on paper and moving coins anyway, because it was never built to sell. Custody rails and OTC desks are how you buy the next ten thousand without moving the tape. Being down on the average is a footnote when the plan is measured in years and the number that matters is the coin count, not the cost basis.