Metaplanet Bitcoin treasury expansion

Japanese investment firm Metaplanet has initiated a series of financial maneuvers to expand its Bitcoin treasury and strengthen its balance sheet.

In mid-October 2026, the company announced plans to raise approximately $329 million through zero-coupon euro-yen convertible bonds due in 2031. The firm intends to use roughly $149 million of the proceeds to repay Bitcoin-collateralized loans to reduce debt reliance, while allocating $179 million toward share buybacks.

Following shareholder approval, Metaplanet is proceeding with the acquisition of a controlling interest in the Nasdaq-listed Super League Enterprise. Through its U.S. subsidiary, Metaplanet Holdings, the firm will contribute 2,100 Bitcoin and $2.5 million in cash in exchange for approximately 44.86 million common shares, warrants, and convertible perpetual preferred stock. This transaction is expected to grant Metaplanet a stake between 93.7% and 95.7%.

Expected to close in the fourth quarter of 2026, the deal will see Super League rebrand as Superplanet, Inc. with the ticker symbol ‘SUPA’. Superplanet will serve as Metaplanet’s U.S.-listed Bitcoin treasury platform, providing a vehicle to raise capital in U.S. dollars. The company intends to use preferred stock offerings to fund future Bitcoin purchases, reducing reliance on traditional debt. This expansion brings Metaplanet’s total holdings to approximately 44,000 Bitcoin, making it the second-largest public corporate holder of the cryptocurrency.