Chipotle Offers Burritos With a Side of Bitcoin
This is not just April Fool’s Day. It is also National Burrito Day, and Chipotle Mexican Grill is making an interesting offer to its customers today.
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.
The first of April is not just April Fool’s Day. It is also National Burrito Day, and burrito chain Chipotle Mexican Grill Inc. (NYSE: CMG | CMG Price Prediction) is making an interesting offer to its customers. This offer will make Chipotle the first U.S. restaurant brand to offer a cryptocurrency giveaway to consumers.
Accordingly, Chipotle is giving away $100,000 worth of free burritos and $100,000 in bitcoin to celebrate National Burrito Day.
As part of this promotion, Chipotle is teaming up with Stefan Thomas, the founder and CEO of Coil, who famously lost his login to his hard drive that stored $387 million in bitcoin.
Fans are encouraged to play the new interactive game “Burritos or Bitcoin,” which is a reference to Thomas’s experience. Essentially players will attempt to crack the code and may win prizes in the process.
According to Chipotle:
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.
The prizes breakdown like this: 10,000 fans will win one free burrito, 50 fans will win $500 in bitcoin and three fans will win $25,000 in Bitcoin.
Excluding Thursday’s move, Chipotle had outperformed the broad markets, with its stock up about 117% in the past 52 weeks. Year to date, the stock was up only 2.5%.
Chipotle Mexican Grill stock traded up about 1% on Thursday to $1,440.81, in a 52-week range of $599.78 to $1,564.91. The consensus price target is $1,652.75.
Contact [email protected] for any questions or corrections.
Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.
