Metaplanet is set to distribute Bitcoin to shareholders through a lottery system, aimed at incentivizing participation in its new initiative with SBI VC Trade.
Tokyo-listed firm Metaplanet has unveiled a new shareholder benefit program, offering Bitcoin (BTC) rewards through a lottery system as part of its collaboration with SBI VC Trade, a subsidiary of SBI Holdings.
*Details of Shareholder Benefit Program in Collaboration with SBI VC Trade* pic.twitter.com/3RioR37vQA
— Metaplanet Inc. (@Metaplanet_JP) December 2, 2024
In an X post on Dec. 2, the Japanese investment firm said the initiative aims to enhance shareholder value by “providing Bitcoin-related benefits,” reflecting the firm’s commitment to “leveraging strategic partnerships” in the crypto space.
Under the program, Metaplanet shareholders holding at least 100 shares as of Dec. 31, will be eligible for Bitcoin prizes. Additionally, individuals or corporations opening new accounts with SBI VC Trade between Nov. 18 and March 31, 2025, can also participate. To complete the process, participants must register through a dedicated website by March 31, 2025, the announcement reads.
“The initiative reflects our commitment to leveraging strategic partnerships to enhance shareholder value while promoting the adoption and utility of Bitcoin.”
Metaplanet
A total of 30 million yen (around $199,500) will be distributed in the form of BTC to 2,350 shareholders through a lottery system. The distribution includes 50 prizes of 100,000 yen (~$664) worth of Bitcoin each, 100 prizes of 30,000 yen (~$200) worth of Bitcoin each, and 2,200 prizes of 10,000 yen (~$66.5) worth of Bitcoin each.
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Metaplanet’s initiative with SBI VC Trade sparked a 4.58% increase in the company’s shares (MTPLF), reaching $16, according to data from OTC Markets Group. The move comes shortly after Metaplanet announced plans to raise $62 million through a series of stock acquisition rights to EVO Fund, with the proceeds aimed at expanding its Bitcoin holdings for treasury management.
In a Nov. 28 press release, Metaplanet revealed its intention to issue a total of 29,000 units, each granting EVO Fund the right to purchase 100 common shares. The cost of each subscription right is set at 614 yen, bringing the total issuance value to 17,806,000 yen.
Read more: Metaplanet shares added to Amplify Transformational Data Sharing ETF
