Bitcoin · U.S. · Japan · Cointelegraph
Metaplanet scales up Bitcoin treasury strategy to US with 2,100-BTC Nasdaq play
Compiled by KHAO Editorial — aggregated from 2 sources. See llms.txt for citation guidance.
◎ Multiple-sources
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.
Key facts
- 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
- The 2,100 BTC contribution represents under 5% of Metaplanet’s 43,000 BTC holdings and is worth roughly $135 million at current Bitcoin prices
- Trading volume reached roughly 37.3 million shares, compared with about 393,000 shares previously, an increase of nearly 95-fold, according to Yahoo Finance data
- Metaplanet has emerged as the third-largest corporate Bitcoin holder, trailing Twenty One Capital by roughly 500 BTC
Summary
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 under 5% of Metaplanet’s 43,000 BTC holdings and is worth roughly $135 million at current Bitcoin prices. Gerovich said the structure would give the company two avenues for raising capital, with Superplanet tapping US markets while Metaplanet continues to raise funds in Japan.