Metaplanet said it will acquire Superplanet in a deal valued at $134.6 million, and it plans to pay for the whole thing in Bitcoin. The announcement sent the buyer's stock surging. The transaction is expected to close in the fourth quarter of 2026.
Paying with Bitcoin, not cash
The deal stands out because of the currency. Metaplanet isn't borrowing dollars or issuing new shares. It's using Bitcoin it already holds, a treasury strategy that a handful of companies have toyed with but few have applied to an acquisition of this size.
For Metaplanet, the move turns its Bitcoin stash into a working asset, not just a balance-sheet line. It also sidesteps the usual friction of cross-border payments, since Bitcoin doesn't care about banking hours or wire limits.
Investors respond
Shares of Metaplanet jumped after the announcement. The market's reaction suggests shareholders see this as a positive use of the company's digital assets, rather than a risky bet. The exact size of the rally wasn't disclosed, but the move was enough to make the deal the talk of the crypto-trading desks this week.
A blueprint for treasury management
If the deal closes as planned, it could give other companies a template. Using Bitcoin to fund M&A redefines what corporate treasury management looks like — turning a volatile asset into a means of expansion. It also opens up global market access in a way that traditional currency conversions don't, and it improves liquidity for companies that have been sitting on large crypto positions.
That's a big if, of course. The deal still needs to pass regulatory hurdles and shareholder votes. But the structure itself is now on the table, and other firms with Bitcoin-heavy balance sheets are likely watching closely.
Next steps
Metaplanet and Superplanet expect to wrap up the acquisition in Q4 2026. Until then, the companies will work through the usual paperwork and approvals. One open question is how the Bitcoin payment will be valued at closing — whether it locks in today's price or uses a future rate. That detail hasn't been announced, and it could affect the final numbers for both sides.
