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Metaplanet's $62M Bitcoin transfer raises selling concerns - Why?
Could Metaplanet's latest Bitcoin transfer signal a shift in its long-term treasury strategy?
Japanese firm Metaplanet has made headlines, but not for a new round of Bitcoin [BTC] accumulation.
According to Onchain Lens data, the firm has moved 800 Bitcoin, worth roughly $62.19 million at the time of the transaction, from its own custody to Coinbase Prime, Coinbase's institutional trading and custody platform.
Such kinds of transfers usually create room for investors to think that the company is preparing to sell some or all of those coins.
Japanese firm Metaplanet has made headlines, but not for a new round of Bitcoin [BTC] accumulation.
According to Onchain Lens data, the firm has moved 800 Bitcoin, worth roughly $62.19 million at the time of the transaction, from its own custody to Coinbase Prime, Coinbase's institutional trading and custody platform.
Such kinds of transfers usually create room for investors to think that the company is preparing to sell some or all of those coins.
Metaplanet's recent 800 BTC transfer is not hinting at an immediate sell-off.
The cumulative Bitcoin treasury DATs have already crossed the $100 billion mark.#GateLaunchesJapaneseStockTrading #U.S.StrikesIranBTCDips #GateIdleEarnAutoYieldUpTo3% #GateEventContractTradeSharingChallenge #AIStartupsRaise400BInSixMonths $BTC