Metaplanet, a Japanese investment company, announced on Tuesday a program to reward shareholders with Bitcoins through a lottery.
The program is a part of a partnership with SBI VC Trade a subsidiary SBI Holdings and underscores Metaplanet’s commitment to enhancing shareholder values while promoting Bitcoin adoption.
Metaplanet Bitcoin reward Program, Bitcoin Holdings and Treasury Management
According to the initiative shareholders who hold at least 100 shares on December 31 are eligible to take part in the program. The total prize pool is 30 million yen (approximately $199,500) and will be distributed in Bitcoin.
The lottery system will award rewards to 2,350 shareholders with different prize amounts.
Individuals or corporations who open new SBI VC Trade accounts between November 18, 2018 and March 31, 2020 will have the chance to register through a special website before the deadline.
Simon Gerovich is the CEO of Metaplanet. He stressed that strategic partnerships are important to increase shareholder value.
He said that the program is part of the firm’s mission to integrate Bitcoin into traditional investment strategies, and to support its mainstream adoption.
The firm announced on October 28 that it had purchased an additional 156.78 Bitcoin. This brings its total holdings up to 1,018.17 BTC.
According to BitcoinTreasuries , the acquisition made Metaplanet Asia’s second largest corporate Bitcoin holder.
Metaplanet Treasury Management: Market Reaction and Stock Performance
Metaplanet recently announced plans to raise 62 million by issuing stock acquisition rights to EVO Fund in the Cayman islands.
The funding will support the treasury initiatives of the company.
The SARs enable EVO Fund, starting on 16 December at 614 yen per unit, to purchase shares of the company.
Metaplanet also issued Bonds valued at 1.75 billion Japanese yen (approximately $11.3 million) to fund its Bitcoin purchase.
These bonds are guaranteed by the director of the company and offer a 0.36% annual interest rate. They will mature in November 2025.
Metaplanet stock has also been affected by the announcement of a shareholder rewards program.
The company’s share price jumped by 1.17% to reach 2337 yen.
Metaplanet’s stock continues to rise, with a 1,360% increase year-to date, which is far greater than the Nikkei index’s 15% gain over the same period.
Simon Gerovich noted that Metaplanet was now ranked 20th out of 4,000 Japanese companies by trading value. This is above prominent corporations like Itochu or NTT.
He said that the success of the company was due to its focus on Bitcoin, and to its progressive approach to engaging shareholders.
