TL;DR
- Metaplanet transferred 1,350 BTC to Coinbase Prime Custody, sparking speculation about a possible sale of its 43,000 BTC treasury.
- MTPLF closed above $2 with an average buy rating, though it has accumulated a 22% decline so far this year.
- Super League Enterprise, Metaplanet’s U.S. vehicle, stabilized its gains around $3.80 after reaching a peak of $5.50.
Metaplanet moved funds from its known wallets once again, this time transferring a total of 1,350 BTC to Coinbase Prime Custody in several transactions.
The operation immediately reignited speculation about a possible partial sale of its treasury, which currently stands at 43,000 BTC. However, it could equally reflect an internal storage reorganization or a custody diversification, without necessarily implying a liquidation.
Part of the transferred funds could be linked to Superplanet, the Japanese company’s U.S. arm, which is set to receive 2,100 BTC. According to reports, Metaplanet’s last recorded BTC movement was on August 12, but it did not result in any sale. Since then, Bitcoin staged one of its strongest recoveries of the year, climbing back above $80,000.
The company has accumulated 7,898 BTC purchased so far this year, spread across 54 acquisitions since April 2024. Its average purchase price stands at $97,593, including positions taken during the drop into the $60,000 range.
Metaplanet (MTPLF): Between a Short Squeeze and Recovery
The MTPLF stock, traded on U.S. over-the-counter markets, fell nearly 22% so far this year, but shows signs of short-term recovery aligned with the BTC price rebound. The volume of short positions on the stock increased considerably in August, reaching 43% of off-market transactions, with a large portion of those positions corresponding to investment bank hedges.
The stock recently closed above $2 and maintains an average buy rating among analysts. The possibility of a short squeeze continues to be closely monitored by retail investors.
Strategy, the sector’s benchmark, halted its BTC sales and announced it has sufficient reserves to cover its obligations. The market responded with optimism, given that the firm holds one out of every 25 bitcoins in circulation.
