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Not only are companies starting to add Bitcoin to their balance sheets, but increasingly it is being used in promotions.
Chipotle Mexican Grill (NYSE: CMG) is the latest example. The fast-food giant announced on Tuesday that for National Burrito Day on April 1 it is giving away $100,000 in free burritos and $100,000 in Bitcoin.
Under the promotion, each player will have ten (10) tries to guess a valid six-digit code for a chance to win a free burrito or up to $25,000 in Bitcoin. If players are unsuccessful in their ten attempts and endure the same fate as Thomas, they may be surprised and delighted with a special offer from Chipotle.
Here is the full breakdown for prizing:
- 10,000 fans will win one (1) free burrito
- 50 fans will win $500 in Bitcoin
- 3 fans will win $25,000 in Bitcoin
Chipotle’s Bitcoin promotion following the aggressive promotion that Square’s (NYSE: SQ) Cash App has been running. Cash App has run numerous Bitcoin promotions and the parent company is famous for its Bitcoin-centric approach.
It should be noted that these companies have to buy Bitcoin in the open market to give it away.
Expect this trend to continue.
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