Metaplanet Turns an Esports Veteran Into a Bitcoin Treasury Giant

Super League shareholders just cleared the way for a gaming company to become a bitcoin treasury heavyweight, courtesy of 2,100 BTC from Japan’s Metaplanet. The deal brings together two unlikely corporate survivors, one born in esports, the other in hotels. Super League Enterprise (Nasdaq: SLE) announced Monday that shareholders approved every proposal connected to Metaplanet’s investment at its Oct. 16 annual meeting. The agreement, originally announced Aug. 18, would deliver 2,100 BTC and $2.5 million in cash through Metaplanet’s U.S. subsidiary. The bitcoin (BTC) was worth approximately $132.1 million when the agreement’s reference price was established Aug. 14. By Oct. 16, its value had climbed to approximately $170 million, a $37.9 million difference before the transaction even closed.

First reported by Bitcoin.com News. This page is a short excerpt; the full text is theirs.