Metaplanet has agreed to acquire Super League, a Nasdaq-listed gaming media firm, in a $134.6 million deal to create a US treasury vehicle called Superplanet trading under the ticker SUPA. The Japanese company, the world’s third-largest corporate Bitcoin holder with 43,000 BTC, will pay $3.00 per share for a 95.7% stake, transferring 2,100 BTC and $2.5 million in cash. The move gives Metaplanet access to the US perpetual preferred stock market, a permanent Bitcoin-backed financing instrument unavailable in Japan. MicroStrategy demonstrated the model’s viability, raising $2.5 billion through its STRC preferred shares in July 2025 and another $7.5 billion this year. The deal is expected to close in Q4 2026 pending shareholder approval and regulatory clearance in both countries.
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