Metaplanet Dangles Bitcoin Lottery and Restaurant Vouchers to Arrest Retail Exodus

Metaplanet offers Bitcoin lottery and restaurant vouchers after stock drops 90% post-index removal, aiming to retain retail investors.

Metaplanet’s stock has lost nearly 90% of its value since hitting a 52-week high of €10.05 in June 2025, and the company is now deploying an unconventional mix of perks to keep its retail investor base intact. Rather than a single loyalty program, the Japanese Bitcoin treasury firm has rolled out two separate incentives simultaneously: a Bitcoin lottery via Coincheck and restaurant e-vouchers from German chain Schmatz, operated by Kaiser Kitchen KK in Japan.

The Bitcoin giveaway is the more headline-grabbing offer. To participate, shareholders must hold at least 100 Metaplanet shares at the end of June and maintain a verified account with partner exchange Coincheck. Fifty winners will receive Bitcoin worth 100,000 yen each, with smaller crypto prizes awarded to additional qualifying investors. The program is designed to reward loyalty and encourage long-term holding.

Alongside the crypto lottery, Metaplanet is also running a restaurant voucher scheme under the same “Joy” category of its broader “Wealth, Health, Joy” shareholder framework. A total of 1,000 eligible shareholders will receive e-vouchers worth 3,000 yen each — a total outlay of 3 million yen. The company’s tier system boosts chances for higher-level holders: Silver-tier members get the standard entry, while Gold, Diamond and Nakamoto tiers earn double the probability of winning. Vouchers are expected to be distributed in autumn 2026 after the application phase.

The timing of these retail-friendly gestures is no coincidence. On June 22, Metaplanet was ejected from the S&P Japan Index, a removal that forced institutional funds tracking the benchmark to unload their positions. The resulting selling pressure has hammered the stock, which now trades around €1.26 — barely above its yearly low of €1.20. Over the past 30 days the shares have shed nearly 25%, and the year-to-date loss stands at more than 43%.

Despite the market rout, Metaplanet’s management remains committed to its Bitcoin accumulation strategy. The company ended the first quarter of 2026 with 40,177 Bitcoin on its balance sheet, funded largely through zero-interest bonds and preferred equity. Revenue for the current fiscal year is projected at roughly $103 million, but the core metric management watches is Bitcoin per share, not short-term stock price. The loyalty programs are intended to stabilize the shareholder register, not alter the capital structure or the crypto exposure.

Neither the Bitcoin lottery nor the restaurant vouchers provide the kind of fundamental catalyst that would reverse the stock’s slide. They are instruments of investor relations, aimed squarely at retail shareholders who might otherwise flee amid the index ouster and continued volatility. Whether small investors stay will depend less on free dining or crypto giveaways and more on how Metaplanet navigates its next capital raise — and whether its Bitcoin-first strategy can eventually regain the market’s confidence. For now, the answers remain as elusive as the stock’s former highs.