U.S. Super League Enterprise, which is set to be folded into a subsidiary of Japan's Metaplanet, bought an additional 16 bitcoin.

On Tuesday, blockchain media outlet Coinpost reported that Super League said in an 8-K filing with the U.S. Securities and Exchange Commission that it bought bitcoin from Nov. 4 to 9. The average purchase price was $76,892.32 per bitcoin.

Super League bought 1 bitcoin on Oct. 10, then added 2 bitcoin, 4 bitcoin, 8 bitcoin and now 16 bitcoin. That means it bought double the previous amount each time. Its five most recent disclosures total 31 bitcoin, with total acquisition costs of about $2.43 million. The company has not separately disclosed its cumulative holdings.

The purchase price has gradually declined. Compared with the average price of $83,041.40 at the first purchase, it bought at a price about $6,149 lower this time.

Metaplanet's acquisition process for Super League is also under way. Super League, a gaming advertising and media company, signed a deal in August to receive a contribution of 2,100 bitcoin and $2.5 million in cash from Metaplanet's wholly owned U.S. subsidiary. Metaplanet plans to secure about 95.7 percent of Super League common stock through the deal.

Once the transaction is completed, the company name will change to Superplanet and its ticker will change to SUPA. The related agenda was approved at a shareholders meeting on Oct. 16, and the company is aiming to complete the transaction within the fourth quarter.

The contribution has not yet been completed. An 8-K filing as of Nov. 9 also kept the existing company name and ticker. The 2,100 bitcoin that Metaplanet will contribute is structured as a transfer of existing holdings rather than newly purchased coins from the market.

Super League's recent bitcoin purchases are a financial strategy being carried out separately from this deal. Looking ahead, key points to watch are the timing of the acquisition's completion and the company name and ticker change, and whether its bitcoin holding strategy changes after the transaction.

15 in binary: 1111 31 in binary: 11111 Today $SLE added 16 BTC, and one more digit. 31 bitcoin in our treasury. Every bit counts. https://t.co/MfoV3k1km1