Mentioned:
Metaplanet is one of the largest Bitcoin treasury companies in Japan. And now, they’re taking control over a public company on the Nasdaq.
What’s happening:
- Metaplanet (OTCQX: MTPLF) is contributing 2,100 Bitcoin to acquire 95% of the Super League Enterprise (NASDAQ: SLE)
By the numbers:
- Metaplanet will also invest $2.5M USD in cash into Super League Entertainment
Why it matters:
- Metaplanet has publicly stated they are planning to turn Super League Enterprise into a Bitcoin treasury platform upon successful completion of their new deal
Going deeper:
- Metaplanet is currently one of the largest holders of Bitcoin in the world amongst all publicly traded companies and holds approximately 43,000 Bitcoin directly as an asset
- All shares issued to Metaplanet in Super League Enterprise part of this new deal will have a voluntary lock up of five years
The intrigue:
- Eric Trump previously made waves when he joined Metaplanet’s Strategic Advisory Board to collaborate on ways to raise both debt and equity to accumulate more Bitcoin
