Metaplanet is extending its Bitcoin treasury strategy into the United States through the planned launch of Superplanet, a Nasdaq-listed Bitcoin treasury platform that will be seeded with 2,100 BTC.

Under the agreement, the Japanese Bitcoin-focused company will contribute the Bitcoin, along with $2.5 million in cash, to Super League Enterprise (Nasdaq: SLGG) in a transaction valued at approximately $134.6 million. Super League will subsequently be renamed Superplanet, and Metaplanet is expected to hold about 95.7% of the company once the deal closes.

A U.S. Vehicle for a Bitcoin Treasury Model

The transaction gives Metaplanet a direct vehicle in the U.S. public markets as the company seeks to extend its Bitcoin treasury model beyond Japan. Superplanet will retain Super League's existing gaming and advertising operations, while its Bitcoin treasury is intended to serve as the foundation for a broader financial strategy.

The structure — seeding an already-listed company rather than pursuing a traditional initial public offering — is a route several Bitcoin treasury ventures have used recently to reach U.S. markets, where Strategy (formerly MicroStrategy) pioneered the corporate accumulation model in 2020 and a wave of followers have since funded bitcoin purchases through equity, convertible debt and preferred-share issuance.

The platform could also use its Bitcoin holdings as collateral for future preferred-stock offerings, an approach that would allow Superplanet to raise additional capital while maintaining exposure to Bitcoin, mirroring funding tools already used across the treasury sector.

The transaction is expected to close in the fourth quarter of 2026, subject to shareholder and other required approvals.

A New Phase for Metaplanet

Metaplanet has rapidly transformed itself into one of the largest publicly traded Bitcoin holders. Listed on the Tokyo Stock Exchange and often described in media coverage as "Japan's MicroStrategy," the company began shifting its treasury into bitcoin in 2024 after previously operating a hotel business, and has since grown into Asia's largest corporate holder of the asset. Its strategy centers on increasing both its Bitcoin holdings and its Bitcoin per share through equity and debt financing.

The company's latest move signals a broader ambition as well. Rather than simply accumulating Bitcoin, Metaplanet is building a platform designed to combine Bitcoin holdings with capital-market activity and operating cash flow.

The U.S. expansion follows other initiatives under Metaplanet's wider strategy, including its Japanese securities business and plans for Bitcoin-backed financial products.

With 2,100 BTC as its initial reserve, Superplanet will enter the U.S. market with a substantial Bitcoin balance and a mandate to pursue further growth, marking a significant step in Metaplanet's effort to establish a multi-market Bitcoin treasury ecosystem.