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Orders are collected through a drive-through window at Burger King.
Naomi Baker/Getty Images
Burger King
has partnered with
Robinhood
to offer the burger chain’s Royal Perks members a chance to win some crypto as a side to their meal.
The deal begins Monday and will run for three weeks.
Customers have a chance to earn Dogecoin, Ethereum or Bitcoin if they spend at least $5 on Burger King’s app. They must, however, all have approved Robinhood accounts to claim prizes.
Cryptocurrency has become a large part of Robinhood’s (ticker:HOOD) business model.
The brokerage firm said last week it brought in $51 million revenue from the trade of seven crypto currencies—an increase of 860% from the year-earlier quarter. But that was down from the $233 million Robinhood made from crypto currency trading in the quarter before.
More than 1 million people have joined the waitlist for the Robinhood crypto wallet, the company’s CEO Vlad Tenev said. The technology allows investors to consolidate their digital currencies.
At the time of the announcement, Burger King said there were 20 Bitcoin, 200 Ether and 2 million Dogecoin available. Odds of winning will change as prizes get distributed, according to the announcement.
Burger King’s parent company,
Restaurant Brands International
(QSR), adds to the list of companies exposed to cryptocurrencies.
Restaurant Brands shares rose 1.1% to $57.25 on Monday. Robinhood declined more than 1%.
As for Bitcoin, the world’s largest cryptocurrency has risen 2.8% over the past 24 hours to $61,912, according to CoinDesk. The second-largest currency, Ethereum, was at $4,361, a 4% jump over the past 24 hours.
Write to Karishma Vanjani at karishma.vanjani@dowjones.com
