Metaplanet is set to expand its presence in the US digital asset market through a significant acquisition. By transferring 2,100 Bitcoin and $2.5 million in cash, the company aims to establish a Bitcoin treasury platform based in the US. Upon successful completion, the publicly traded company’s name will change to Superplanet with the stock ticker SUPA.
The Structure and Purpose of the Deal
Metaplanet intends to transplant its Bitcoin treasury model, successfully implemented in Japan, to the more developed US financial markets. The plan foresees establishing a two-company framework publicly listed in both Japan and the US. Accordingly, Metaplanet will continue to raise funds in yen in Japan, while Superplanet will handle dollar-based financing in the US.
Post-acquisition, Metaplanet is projected to hold approximately 95.7% of the ordinary shares and voting rights of Superplanet. All Bitcoin acquired by Superplanet will be integrated into the Metaplanet group’s total BTC holdings.
Metaplanet is looking to enhance its Bitcoin treasury presence in the US by complementing its existing framework in Japan with a dollar-based company.
A significant aspect of the company’s strategy could be the issuance of perpetual preferred shares denominated in US dollars. The funds raised from this will purchase additional Bitcoin for the Superplanet balance sheet. According to the presentation, if Superplanet amasses as much preferred capital as the value of its initial 2,100 BTC position, it could acquire an additional 2,100 BTC.
Bitcoin Holdings and Additional Financing Plan?
In this scenario, the new entity’s Bitcoin holdings could escalate from 2,100 BTC to 4,200 BTC. Metaplanet anticipates that this step could enhance the Bitcoin per share amount by approximately 4.7%.
Additionally, Metaplanet has the capacity to make further investments of up to $210 million into Superplanet, potentially securing long-term purchase rights for approximately 381 million shares.
The example calculation in the presentation indicates that if the initial position of 2,100 BTC is supported by equivalent additional capital, the asset could reach 4,200 BTC.
Approval Process and Current Standing
However, finalizing the transaction requires approval from shareholders, along with permissions from Nasdaq and other regulatory bodies. If all approvals are obtained, the process is expected to commence in the fourth quarter of 2026.
Metaplanet initiated its Bitcoin treasury strategy last year. The company had temporarily paused its BTC acquisitions amid market weakness in 2026 but resumed purchases in July of this year. Metaplanet’s holdings are estimated at around 43,000 BTC, positioning it as the third-largest institutional Bitcoin holder based on public data.
In the corporate rankings, Twenty One Capital slightly edges out Metaplanet with 43,514 BTC, while Strategy leads with approximately 840,447 BTC. Metaplanet seeks to bolster its access to dollar financing and grow its Bitcoin holdings across two major capital markets through this new structure in the US.
