Chipotle to give away Bitcoins worth $100,000 celebrate National Burrito Day

Customers vie for a shot at $100,000 worth of Bitcoins or burritos in a game
  • Chipotle Mexican Grill, a popular fast-food chain, has come up with a new way to celebrate National Burrito Day
  • It announced a giveaway of about $100,000 worth of Bitcoins
  • Customers will have to play a game called “Burritos or Bitcoin” for a chance to win cool prizes

While some firms may invest heavily in conventional marketing and advertising, Chipotle has come up with a unique way to attract more customers. Riding on Bitcoins’ current hype, the firm decided to do something that no other private company has ever tried before on US soil.

The wild idea to captivate customers.

The reasoning behind the move is simple. Bitcoin is now the largest cryptocurrency to be mass-adopted. It has a market capitalization of close to $1 trillion, allowing fractionalized investments. Recently, its price surged to about $58,000 from a mere $9,000 a few months ago. All these factors combined are bound to attract people’s curiosity, and Chipotle counted on that. To make the eve of National Burrito Day even more fun, they organized a tricky little game dubbed “Burritos or Bitcoin.”

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The goal of the game is simple. Players will be sent on a rescue mission to acquire tokens dubbed “chiptocurrency”. They will have to guess the correct 6-digit code within ten attempts to unlock a fictional digital wallet. The competition ends at 6 PM (New Jersey time), and about 10,000 people would win a free burrito, 50 people would win $500 worth of Bitcoin, and three lucky persons would hit the jackpot of $25,000 worth of Bitcoin. Even players who lose are eligible to get some other prizes. All in all, the free giveaway is worth $200,000.

Game-based on wallet adversities

Several crypto investors had purchased Bitcoins about a decade ago. When it shot to fame, and the price quickly rose, some investors had forgotten their passwords to their digital wallets that contain their private keys. The software only allows ten attempts to guess the credentials, failing which the contents will be encrypted forever. The creator of “Burritos or Bitcoin” is one such investor, Stefan Thomas, who misplaced a sheet containing a hard disk’s login credentials that contained over 7,000 Bitcoins worth about $387 million. Unsurprisingly, the game is a subtle play on his misfortune.

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Andrew Smithhttp://thecoinrepublic.com
Andrew is a blockchain developer from his education and developed his interest in the cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer.

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