Metaplanet Puts $132M in Bitcoin on Table for US Expansion

Metaplanet, a Tokyo-listed firm and one of the world's largest corporate Bitcoin holders, has made its first move outside Japan. The company agreed to seed Nasdaq-listed Super League Enterprise with $132.1 million worth of BTC in exchange for stock, preferred shares, and warrants.

The deal will rename Super League Enterprise as Superplanet, Inc., which will trade under the ticker SUPA. Metaplanet will own about 95.7% of Superplanet's common stock after the deal closes in Q4.

Metaplanet CEO Simon Gerovich framed the move as a way to tap into the world's deepest capital market, saying that the company is putting its own Bitcoin on the table and backing the deal with its balance sheet.