Metaplanet Unveils US Bitcoin Expansion: Here’s What It Plans to Do With Superplanet

The BTC holder plans to transform the Nasdaq-listed Super League into Superplanet to create a second vehicle designed to raise capital and buy more bitcoin in the US.

The third-largest corporate holder of BTC has revealed additional details about its planned US expansion, which will see it invest 2,100 BTC and $2.5 million in cash into Super League Enterprise.

The transaction will transform the Nasdaq-listed entity into Superplanet and will become a US Bitcoin treasury platform operating under the ticker SUPA.

Superplannet Is Coming

Metaplanet is expected to control approximately 95.7% of the company’s common stock and voting power following the deal. The newly published investor presentation explains the broader strategy in which the Japanese company wants to replicate its Asian BTC treasury model in the considerably deeper US capital market.

It described the structure as “two listed issuers, two currencies, in two of the world’s largest capital markets.” The company will continue accessing yen-denominated capital in Japan, while Superplanet will attempt to raise USD in the States. All the BTC accumulated by the newly-renamed entity will remain within the Metaplanet group and be consolidated into its overall holdings.