Metaplanet Commits 2,100 BTC to Launch U.S. Bitcoin Treasury Platform Superplanet

Bitcoin News

Metaplanet, one of the largest corporate Bitcoin holders, is taking its treasury model to the United States. The Tokyo-listed company has agreed to invest 2,100 BTC, valued at roughly $132 million at the time of the announcement, plus $2.5 million in cash, into Nasdaq-listed gaming media firm Super League Enterprise. In return, Metaplanet will receive common stock, preferred shares and warrants, and the target is set to be renamed Superplanet, Inc., trading under the ticker SUPA. According to the company’s investor-relations disclosure, Metaplanet is expected to control about 95.7% of Superplanet’s common stock at closing, while all contributed Bitcoin will remain inside the Metaplanet group. The transaction marks Metaplanet's first operating foothold outside Japan and creates a U.S.-listed vehicle for dollar-based capital raising alongside its yen funding in Japan. The investor presentation also outlines a follow-on scenario in which Superplanet could raise preferred equity equal to the value of its initial 2,100 BTC position and buy another 2,100 BTC, potentially doubling the subsidiary’s holdings to 4,200 BTC and lifting the group's Bitcoin-per-share metric by about 4.7%. Metaplanet has also reserved the right to invest up to $210 million more in Superplanet through long-term purchase rights covering 381 million shares. Completion remains subject to shareholder approval, Nasdaq filings and other regulatory clearances, with the transaction expected to close in the fourth quarter of 2026.

According to the official announcement, the transaction represents roughly 4.9% of Metaplanet’s approximately 43,000 BTC treasury, leaving the bulk of its reserve intact. Superplanet will remain listed on Nasdaq under the SUPA ticker, and its legacy advertising and media operation is expected to continue as a separate segment within the new structure. The company has not yet set a precise launch date, noting that the deal is still working through shareholder approval, Nasdaq filings and customary regulatory processes in both the U.S. and Japan. If cleared, the deal is scheduled to close in the fourth quarter of 2026. Metaplanet framed the transaction as a way to give investors exposure to a Nasdaq-listed Bitcoin treasury company backed by a large existing reserve, while preserving its Japanese operating business. The dual-listed model is intended to let the group raise dollar capital in the U.S. and yen capital in Japan, with the proceeds used to grow a single consolidated Bitcoin position across both platforms.

Metaplanet’s CEO, Simon Gerovich, framed the acquisition as a way to compound a single group Bitcoin position across two listed markets, with Metaplanet contributing its own coins and supporting the new subsidiary with its balance sheet. Mark Palmer of Benchmark-StoneX, an analyst who rates Metaplanet a buy and has described the firm as “the Strategy of Japan,” said the deal differs from the recent wave of shell-company and PIPE treasury transactions because it is funded with Bitcoin held on Metaplanet’s balance sheet rather than with third-party money raised at a discount. Palmer also noted that the share count was fixed on August 14 and will not float with Bitcoin’s price ahead of closing, that the equity was struck near Super League’s prior close, and that Metaplanet’s shares carry a five-year lock-up. The move deepens a broader expansion: Metaplanet recently acquired a Japanese securities firm to build Bitcoin yield products, launched Bitcoin-backed “Bitbonds,” and previously signaled plans for a U.S. subsidiary with a $250 million Bitcoin strategy. With roughly 43,000 BTC, Metaplanet ranks third among publicly disclosed corporate holders, behind Twenty One Capital’s 43,514 BTC and Strategy’s roughly 840,447 BTC.

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