Metaplanet Launches ¥30 Million Bitcoin Rewards Program for Shareholders
Metaplanet, a crypto-friendly financial services company, has launched a Bitcoin initiative to reward shareholders holding at least 100 Metaplanet shares (MTPLF) by December 31.
The company partnered with SBI VC Trade, part of the SBI Group, to distribute ¥30 million worth of Bitcoin to participating shareholders.
Reward Distribution Details
The program will reward 2,350 eligible shareholders based on their holdings. Fifty participants will receive ¥100,000 in Bitcoin, 100 will get ¥30,000, and 2,200 shareholders will be awarded ¥10,000 each.
To qualify, shareholders must open an account with SBI VC Trade and register for the program by March 31, 2025. Bitcoin rewards will be credited to eligible accounts by late April 2025, with amounts determined by Bitcoin's price on April 15, 2025.
CEO Simon Gerovich stated that the program aims to integrate Bitcoin into everyday life in Japan, allowing more people to experience it.
Market Response and Growth Potential
Despite the program not yet starting, it has significantly impacted the market, with Metaplanet’s stock rising over 6% post-announcement. The stock has increased by 1,360% year-to-date, driven by its Bitcoin-focused strategy.
Analysts predict continued stock growth, potentially reaching 3,000 JPY, a level previously achieved in May.
Japan's corporate sector is increasingly adopting crypto, with Metaplanet leading this trend. The company announced earlier this year that it has adopted a strategy similar to MicroStrategy's by utilizing Bitcoin as a corporate reserve.
Currently, Metaplanet holds 1,142 BTC, valued at over $109 million, making it the largest corporate Bitcoin holder in Asia.
To further increase its Bitcoin holdings, Metaplanet has initiated a $62 million (¥9.5 billion) fundraising effort through a third-party allotment scheme involving 29,000 stock acquisition rights to EVO FUND, a Cayman Islands-based investment firm. This approach adjusts the exercise price to market conditions, resulting in an estimated 8% dilution of existing shares.