Tokyo-listed Metaplanet has agreed to acquire a 96% controlling stake in Nasdaq-listed gaming media company Super League Enterprise, paying approximately $132 million through a combination of 2,100 BTC and cash. The acquired company will be rebranded Superplanet and trade under the ticker SUPA, functioning as a US-based Bitcoin treasury vehicle. Super League shares surged 80% on the announcement.
This deal gives Metaplanet a direct foothold in US capital markets without a separate US listing, and effectively deploys 2,100 BTC as a corporate asset on a Nasdaq-listed balance sheet. Investors already positioned in Bitcoin treasury plays like MicroStrategy now have a new publicly traded comp; SUPA will trade as a leveraged Bitcoin proxy the moment it relaunches. The 80% single-day move in Super League stock signals that the market is pricing this as a high-beta BTC bet, not a gaming media story.
SUPA rebranding and first post-merger trading day (exact date not yet disclosed). Next Bitcoin treasury update from Metaplanet, expected alongside its next quarterly filing. Watch for SEC review of the merger structure, which could affect timeline.
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