Japanese Bitcoin treasury company Metaplanet is expanding its Bitcoin strategy into the U.S. through a proposed investment in Nasdaq-listed Super League Enterprise.
Under a definitive agreement announced on August 18, Metaplanet, through its wholly owned U.S. subsidiary, will contribute 2,100 BTC valued at approximately $132.1 million, along with $2.5 million in cash, to Super League. The total initial investment is therefore about $134.6 million.
In exchange, Metaplanet will receive common shares, preferred stock and warrants in Super League.
Super League to Become Superplanet
Following completion of the transaction, Super League will be renamed Superplanet, Inc. and is expected to become Metaplanet’s dedicated U.S. Bitcoin treasury platform.
Metaplanet is set to hold approximately 95.7% of Superplanet’s issued and outstanding common stock. Including the potential exercise of outstanding pre-funded warrants, its ownership could rise to about 93.6%, according to the announcement’s stated calculation.
The transaction is structured as a strategic investment in an existing Nasdaq-listed operating company rather than a reverse takeover or SPAC transaction. Super League’s existing gaming and media operations are expected to remain in place.
2,100 BTC Forms the Core Treasury
The Bitcoin contribution will give Superplanet an initial treasury of 2,100 BTC. Metaplanet said the U.S. platform is intended to provide investors with exposure to a Bitcoin treasury through a Nasdaq-listed company while retaining an operating business that generates revenue.
The move effectively extends Metaplanet’s Bitcoin accumulation strategy across two major markets.
Superplanet is expected to pursue capital in the U.S., while Metaplanet continues raising capital in Japan. The companies said the structure is designed to support longer-term Bitcoin accumulation from both markets.
Five-Year Commitment Adds Long-Term Focus
The agreement also includes a five-year lock-up, signalling that the Bitcoin contribution is intended as a long-term treasury commitment rather than a short-term allocation.
The proposed structure would bring Metaplanet’s Tokyo Stock Exchange-listed Bitcoin strategy together with a Nasdaq-listed U.S. vehicle under a common treasury approach.
Metaplanet already holds about 43,000 BTC, according to the announcement, making the new 2,100-BTC contribution a further expansion of its corporate Bitcoin holdings.
For U.S. investors, the planned Superplanet structure could create another publicly traded route to Bitcoin treasury exposure, while giving Metaplanet a larger presence in the American capital market.
If completed, the transaction would mark a significant step in Metaplanet’s strategy of using listed companies and capital markets to build its Bitcoin treasury footprint across Japan and the U.S.
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