Metaplanet to Distribute $200,000 in Bitcoin to Shareholders
Date: 2024-12-03 Author: Gabriel Deangelo Categories: BUSINESS
This initiative, implemented in collaboration with crypto exchange SBI VC Trade, is aimed at popularizing Bitcoin in Japan and increasing shareholder interest in the company. Metaplanet previously raised $62 million to increase its Bitcoin reserves.
Metaplanet has allocated 30 million yen to be distributed among 2,350 shareholders. The prize pool will be divided as follows: 50 winners will receive 100,000 yen in Bitcoin each, 100 winners will receive 30,000 yen each, and the remaining 2,200 participants will receive 10,000 yen each. The terms of participation require shareholders to be adults in Japan and own at least 100 Metaplanet shares as of December 31, 2024. To receive bitcoins, you must open an account on the SBI VC Trade platform by the end of March 2025. The funds will be transferred to participants' accounts in April 2025, and their amount will depend on the bitcoin rate on April 15.
Metaplanet shares, traded on the Tokyo Stock Exchange under the ticker symbol 3350, have risen by 1,200% this year, which is associated with the implementation of the bitcoin strategy in April. They are now worth 2,337 yen ($15.58).
Metaplanet CEO Simon Gerovich emphasized that the company will continue to innovate to strengthen the connection between shareholders and the bitcoin ecosystem. Metaplanet is often compared to the American company MicroStrategy, which is the largest holder of bitcoins among public companies.
MicroStrategy began investing in Bitcoin in 2020 and has accumulated 386,700 BTC, which has allowed its shares to grow by 2,279%. MicroStrategy founder Michael Saylor is a vocal advocate for the use of Bitcoin and has encouraged large companies like Berkshire Hathaway and Microsoft to integrate the cryptocurrency to increase their capitalization.
