Metaplanet takes 96% of Super League in 2,100 BTC, cash deal to launch US bitcoin treasury firm
Metaplanet is taking its bitcoin treasury strategy to the U.S. with a controlling stake in Super League, which surged 80% on the news.
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Metaplanet is taking its bitcoin treasury strategy to the U.S. with a controlling stake in Super League, which surged 80% on the news.
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The deal involves Metaplanet contributing 2,100 bitcoin and $2.5 million in cash, valuing the initial investment at $134.6 million.
Common-equity proceeds funded preferred dividends, buybacks and reserves while Strategy made no Bitcoin transactions.
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Wall Street’s tech-heavy indexes faced renewed pressure Tuesday as long-term Treasury yields surged, while Bitcoin remained comparatively stable around $64,000.