Metaplanet, a Tokyo-listed Bitcoin treasury company, transferred 10,270 BTC worth about $806.3 million to Coinbase Prime over the course of a week, equal to more than 29% of its reported holdings and intensifying speculation that it may be preparing to sell. Arkham Intelligence data show a 4,800 BTC deposit worth nearly $377 million to Coinbase Prime on the latest day, following 2,000 BTC worth $155.5 million two days earlier, 3,331 BTC worth nearly $266 million three days earlier, and 139 BTC worth $11.1 million six days earlier. Newer reporting places Metaplanet’s reserves at 35,102 BTC valued at about $2.75 billion, ranking it the fourth-largest corporate Bitcoin holder; earlier accounts had cited roughly 43,000 BTC and a third-place ranking among digital asset treasuries. CEO Simon Gerovich has described prior Coinbase Prime movements as custodial adjustments rather than a prelude to liquidation, and the company has not confirmed any 2026 Bitcoin sales, a stance set against bitcoin prices that have traded below its previously cited average acquisition cost. The transfers coincide with broader pressure on smaller corporate treasuries, some of which have been selling holdings, while French Bitcoin treasury firm Capital B moved in the opposite direction by raising €21.0 million ($24.5 million) through a private share placement to acquire 270 BTC. Gerovich separately expanded his equity stake by exercising Series 10 stock acquisition rights, and Metaplanet continues to advance its proposed Superplanet U.S. bitcoin treasury platform pending shareholder and regulatory approvals.