Metaplanet expands Bitcoin treasury strategy to US with 2,100-BTC Nasdaq play
The proposed deal with Nasdaq-listed Super League Enterprise would give the Tokyo-based company a foothold in US capital markets while using existing Bitcoin rather than additional purchases.
Metaplanet, the Tokyo-listed company that has adopted Bitcoin as its primary treasury reserve asset, plans to take a controlling stake in Nasdaq-listed Super League Enterprise, expanding its Bitcoin treasury strategy into the United States and potentially opening up new sources of capital.
On Tuesday, Metaplanet CEO Simon Gerovich said the company plans to contribute 2,100 Bitcoin (BTC) and $2.5 million in cash to Super League, which will be renamed Superplanet and become the company’s US Bitcoin treasury platform.
The 2,100 BTC contribution represents just under 5% of Metaplanet’s 43,000 BTC holdings and is worth roughly $135 million at current Bitcoin prices. Because the Bitcoin will come from Metaplanet’s existing treasury, the transaction does not represent a new BTC purchase.
