Japan’s Metaplanet to distribute $200 000 in bitcoins to shareholders

What’s new? Japanese Web3 infrastructure provider Metaplanet, which followed MicroStrategy’s lead and began accumulating bitcoins to hold in reserve in April, has launched a shareholder rewards program in partnership with crypto exchange SBI VC Trade as part of SBI Holdings. The announcement was made shortly after raising $62 million to boost its investment in BTC.

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What else is known? Metaplanet CEO Simon Gerovich noted that with the new initiative, the company aims to popularize the use of bitcoin in Japan, as well as increase shareholder engagement and returns.

Thus, the company will distribute 30 million Japanese yen ($200 000) in bitcoins to 2350 shareholders. Of these, 50 winners will each receive 100 000 yen worth of bitcoins, 100 winners will each receive 30 000 yen in BTC, and another 2200 shareholders will each receive 10 000 yen in BTC.

Metaplanet has set some criteria for selecting shareholders to receive these rewards. Specifically, potential participants must be adult residents of Japan and own at least 100 Metaplanet shares as of December 31, 2024. Such shareholders must open a new account with SBI VC Trade by March 31, 2025.

The company will credit bitcoins to eligible SBI VC Trade accounts by the end of April 2025. The volume of bitcoins will be determined based on their purchase price as of April 15.

Metaplanet’s shares trade under ticker 3350 on the Tokyo Stock Exchange (TSE) at 2337 yen, or $15,58. Their value has risen 1200% since the beginning of the year, a sharp rise that began after the bitcoin strategy was introduced in April.

“We will continue to explore innovative ways to provide meaningful opportunities and strengthen the connection between our shareholders and the broader Bitcoin ecosystem,” the company concluded.

Metaplanet is often referred to as Japan’s MicroStrategy (MSTR). This US-based analytics software provider started investing in bitcoin back in 2020 and has now accumulated 386 700 BTC, making it the largest holder of the asset on its own balance sheet among publicly traded companies. Its shares have risen 2279% since then.

MicroStrategy founder Michael Saylor has been pushing the bitcoin strategy among other companies. He recently noted that Warren Buffett’s Berkshire Hathaway could improve its capital management efficiency through cryptocurrency. The entrepreneur also spoke before the Microsoft board of directors, where he said that bitcoin would increase the value of the corporation by $4,9 trillion by 2034.