Metaplanet, a prominent Japanese investment firm, has introduced an innovative shareholder reward program that will distribute Bitcoin prizes through a lottery system. This move reflects the company’s commitment to enhancing shareholder engagement and promoting cryptocurrency adoption.
Program Details and Participation
The initiative, launched in collaboration with SBI VC Trade (a subsidiary of SBI Holdings), is designed to reward shareholders while integrating Bitcoin into traditional investment strategies.
- Eligibility: Shareholders holding at least 100 shares as of December 31, 2024, can participate in the lottery-based program.
- Prize Pool: A total of 30 million yen (approximately $199,500) will be distributed in Bitcoin.
- Rewards Distribution: Prizes will be allocated to 2,350 shareholders, with varying amounts awarded via the lottery system.
- Additional Opportunity: Individuals and corporations opening new accounts with SBI VC Trade between November 18, 2024, and March 31, 2025, can also join the lottery by registering on a dedicated website.
Metaplanet’s Bitcoin Strategy
Metaplanet has been aggressively expanding its Bitcoin holdings as part of its long-term strategy.
- On October 28, 2024, the firm acquired an additional 156.78 BTC, bringing its total Bitcoin holdings to 1,018.17 BTC.
- Ranking: Metaplanet is now the second-largest corporate Bitcoin holder in Asia and ranks 19th globally, according to BitcoinTreasuries.
CEO Simon Gerovich emphasized that this initiative aligns with the company’s mission to integrate cryptocurrency into its treasury management and foster Bitcoin’s mainstream adoption.
Funding and Treasury Management
To support its growing cryptocurrency portfolio and shareholder initiatives, Metaplanet has undertaken several funding measures:
- Stock Acquisition Rights (SARs):
- Funding: The company plans to raise $62 million through SARs issued to EVO Fund (based in the Cayman Islands).
- Details: Starting December 16, EVO Fund can purchase shares at a unit price of 614 yen.
- Bond Issuance:
- Value: Bonds worth 1.75 billion yen (approximately $11.3 million) were issued to fund Bitcoin acquisitions.
- Terms: The bonds offer a 0.36% annual interest rate and will mature in November 2025.
Impact on Stock Performance
The announcement of the Bitcoin rewards program has positively impacted Metaplanet’s stock:
- Share Price: Following the news, shares rose by 1.17% to reach 2,337 yen.
- Year-to-Date Growth: Metaplanet’s stock has surged by 1,360% in 2024, significantly outperforming the Nikkei 225 index’s 15.7% growth during the same period.
Simon Gerovich credited the company’s success to its strategic Bitcoin focus and progressive approaches to shareholder engagement.
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