Super League buys 16 BTC for $1.23m as purchase sizes double

Super League Enterprise has bought 16 Bitcoin for roughly $1.23 million, doubling the size of its previous purchase as it continues building a treasury ahead of a proposed investment from Metaplanet. Summary Super League purchased 16 BTC between Nov. 4 and Nov. 9 at an average of $76,892.32. Disclosed purchases since October total 31 BTC, with a calculated acquisition cost of approximately $2.43 million. Shareholders have approved proposals related to Metaplanet’s planned contribution of 2,100 BTC and $2.5 million. Super League’s Nov. 9 disclosure states that the Nasdaq-listed company acquired the coins between Nov. 4 and Nov. 9 at an average price of $76,892.32 each. The purchases formed part of its exploration of Bitcoin as a treasury asset alongside cash and cash equivalents. Multiplying the disclosed quantity by the average price puts the purchase cost at $1,230,277.12. The disclosure did not identify the funding source, name a custodian, or provide a consolidated Bitcoin balance. Bitcoin purchases grow as entry prices fall The latest acquisition followed four earlier purchases disclosed since October, with each successive batch twice the size of the previous one. An Oct. 13 fi...