Metaplanet Expands Into the US Market Via Superplanet Takeover

Japan-based Bitcoin treasury company Metaplanet has expanded into the US by buying a controlling stake in Nasdaq-listed Super League Enterprise. The firm’s CEO, Simon Gerovich, disclosed this on X, noting that the company will now be renamed Superplanet.

The move marks Metaplanet’s largest expansion into the US market. That also signals it is doubling down on its Bitcoin strategy despite market conditions. Metaplanet itself is listed on the Tokyo Stock Exchange. However, the firm has been available for over-the-counter trading in the US.

Metaplanet Seeds Superplanet with 2,100 BTC; Targets US Capital

According to the announcement, Superplanet will be a new Bitcoin treasury company within the Metaplanet Group. The Tokyo Stock Exchange-listed firm is seeding Superplanet with 2,100 of its Bitcoin holdings.

Gerovich explained the rationale for the new company. He noted that it is intended to allow the Metaplanet Group to enter the US market. According to him, the US has the deepest capital market in the world, and Superplanet will give it a direct presence.

He noted that the company could now raise capital in two countries to fund its bitcoin strategy. The firm won’t have to dilute its common shareholders.

“The strategy now runs on two engines. Superplanet raises in America. Metaplanet raises in Japan. Both feed a single Bitcoin position that never leaves the group. When Superplanet raises capital without adding common shares, Bitcoin per share rises there and at Metaplanet at the same time,” Gerovich wrote.

The announcement added that Superplanet can raise capital through means not available to the Japanese parent company. However, there is also the possibility of bringing Superplanet securities to Japanese investors.

Interestingly, Metaplanet CEO emphasized how this deal is structured for long-term ownership. He noted that less than 5% of Metaplanet Bitcoin was spent seeding the new company.

Gerovich also highlighted that all Metaplanet shares in the new company have been locked for five years. The deal is expected to close by Q4 of 2026.

Bitcoin Sees Slight Gains As Demand Remains Low

The move by Metaplanet comes at a time when Bitcoin treasury companies are pulling back due to market struggles. Strategy has not bought any BTC for more than three months as it continues to accumulate cash.

Metaplanet is the third-largest public Bitcoin holder with 43,000 BTC. Its holdings would decline to 41,900 BTC unless it buys additional BTC before the deal closes. However, this represents a major bet on the US market.

Interestingly, investors support the move. Its stock gained 5% today to reach 228 Yen, even as it remains down 43% this year.

Still, the stock gain might be a reaction to Bitcoin’s slight jump today. This happened as the flagship crypto asset approached $65,000 before retreating. It is up by about 1% in the last 24 hours, even as demand remains down.

However, CryptoQuant analysts believe that Bitcoin spot demand could turn positive for the first time since February.

According to its report, contraction in Bitcoin spot demand has nearly vanished. With this, 30-day apparent spot demand recovered from -206K BTC on July 23 to roughly -5K BTC on August 18.