Burger King is partnering with online brokerage Robinhood in a promotion to award cryptocurrency to a handful of customers.
People who sign up for the fast-bood chain’s Royal Perks loyalty program and who spend at least $5 using its app can win Bitcoin, Dogecoin or Ethereum, Burger King announced Monday. To claim a prize, winners must open a Robinhood crypto account via the firm’s app. The sweepstakes lasts through November 21.
According to Burger King, diners who choose to play are most likely to win Dogecoin, which traded Monday at 27 cents. The odds of winning bitcoin, which hovered around $60,665, are about 1 in 100,000. Ethereum was valued at $4,293, according to CoinMarketCap. Burger King is giving away a total of 20 bitcoin, 200 ethereum and 2 million dogecoins.
Cryptocurrencies continue to grow in popularity, drawing the attention of mainstream financial companies, banks and federal regulators. The Burger King promotion could give Robinhood, known for its popularity among retail investors and commission-free trading, a badly needed boost expanding its digital currency business. The company’s third-quarter revenue from cryptocurrency fell 78% from the previous quarter, it reported in October.
Burger King didn’t say whether it planned to accept cryptocurrency at its restaurants in the future.
“Cryptocurrency (crypto) has been a hot topic of conversation recently, but we know it can be difficult to understand. That’s why we wanted to bring crypto to our guests in a way that was accessible and digestible (literally and figuratively) — through our food,” the company said in its announcement.
“We’re excited to offer guests a side of crypto in this promotion, but don’t have any news on whether we will be accepting crypto as payment in the future,” the company said.
