With over $109M in Bitcoin holdings, Metaplanet leads Asia in corporate crypto reserves.
Crypto-friendly financial services company Metaplanet has announced the launch of its new Bitcoin BTC $109 687 24h volatility: 1.9% Market cap: $2.18 T Vol. 24h: $61.35 B initiative designed to reward shareholders who hold at least 100 Metaplanet shares (MTPLF) as of December 31.
The company has partnered with SBI VC Trade, the exchange arm of the Japanese financial services group SBI Group, to distribute a total of ¥30 million worth of Bitcoin to shareholders participating in the new reward program.
Reward Distribution Details
According to a recent announcement, the program will see 2,350 eligible shareholders receive Bitcoin rewards based on their holdings. According to the distribution plan, 50 participants will each receive ¥100,000 in Bitcoin, 100 will receive ¥30,000, and the remaining 2,200 shareholders will be awarded ¥10,000 each.
To qualify, shareholders must complete several steps, including opening an account with SBI VC Trade and registering for the program by March 31, 2025. The Bitcoin rewards will then be credited to eligible accounts by late April 2025, with the final amount determined by Bitcoin’s price on April 15, 2025
Metaplanet’s CEO, Simon Gerovich, said the Bitcoin reward program is part of the company’s commitment to integrating Bitcoin into everyday life in Japan.
“This initiative is part of our efforts to provide Bitcoin for free so that more people in Japan can experience Bitcoin,” he said.
Market Response and Growth Potential
While the Bitcoin reward program has yet to start, it has already had a significant market impact. Following the announcement, Metaplanet’s stock surged by over 6%, reflecting strong investor confidence. As shown on Google Finance, the company’s stock has skyrocketed by 1,360% year-to-date, mainly driven by its Bitcoin-focused strategy introduced earlier this year.
Analysts have predicted further stock growth, with prices potentially hitting 3,000 JPY, a high previously reached in May.
Meanwhile, Japan’s corporate landscape has increasingly embraced crypto, with Metaplanet’s newly implemented Bitcoin strategy leading the chart. The company announced in April this year that it has taken a page from MicroStrategy’s playbook to embrace Bitcoin as a corporate reserve.
Currently, the Japanese investment firm holds 1,142 BTC, valued at over $109 million, in its treasury. With its growing Bitcoin portfolio, the firm has become the largest corporate Bitcoin holder in Asia.
To expand its Bitcoin holdings further, Metaplanet recently announced a $62 million (¥9.5 billion) fundraising initiative. Under a third-party allotment scheme, the plan involves issuing 29,000 stock acquisition rights to EVO FUND, a Cayman Islands-based investment firm.
According to the announcement, this flexible approach adjusts the exercise price to market conditions while mitigating excessive dilution, resulting in an estimated 8% dilution of existing shares.
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