It may not be long until you can buy your Big Mac at McDonald’s (MCD) – Get McDonald’s Corporation Report, Whopper at Burger King, or shake at Shake Shack (SHAK) – Get Shake Shack, Inc. Class A Report using bitcoin.
Bitcoin is already gaining traction in the fast-food industry. One fast-food company has implemented a rewards program to gauge customer interest in cryptocurrencies. It has the goal of eventually accepting bitcoin and other cryptocurrencies as payment.
Shake Shack announced on Twitter on Friday that customers who pay with a Cash App Cash Card (SQ) – Get Block Inc Class A Report until March 15 would receive a 15% Boost Reward in the form of bitcoin.
Customers Will Be Rewarded
Shake Shack said, “Not a bit, just more coin.” “Select Cash Card by @CashApp holders will be able to get their 15% Boost incentive in $BTC instead of USD from now until March 15th. Shack is going to the moon with us.”
Customers who pay using Cash Card from Cash App, Block Inc.’s digital wallet, will receive 15% of their purchase value back in bitcoin. This is through Cash Card’s Cash Boost rewards program.
According to the Journal, Shake Shack will investigate whether its young clients are interested in the Cash App program and cryptocurrencies. This is because Block’s greatest customer base consists of millennials and Gen Z.
Shack Shack Pressured to Accept Crypto
McDonald’s’ foray into the bitcoin and cryptocurrency world comes after Tesla’s (TSLA) – Get Tesla Inc Report CEO Elon Musk and Dogecoin cryptocurrency co-founder Billy Markus called on McDonald’s to start accepting the Dogecoin cryptocurrency as a form of payment in January.
“If @McDonalds accepts Dogecoin, I will eat a happy meal on TV.” Musk tweeted on Jan. 25.
In a tweet on Jan. 19, Dogecoin co-founder Billy Markus urged Dogecoin owners and admirers to send letters to McDonald’s. This is expressing their support for the cryptocurrency and pressuring the fast-food chain to accept the meme coin as payment.
According to Cryptwerk, as of March 6, more than 2,000 merchants, including Musk’s Tesla, accept Dogecoin as payment for transactions. On January 14, the electric vehicle manufacturer started taking Dogecoin as a form of payment for its goods.
At the time of writing, neither Musk nor Markus had tweeted Shake Shack requesting that they accept Dogecoin.
According to the Wall Street Journal, institutional investors traded $1.4 trillion in cryptocurrencies on the Coinbase Global exchange in 2021. It went up from $120 billion in 2020. According to a Visa survey, 62% of cryptocurrency owners plan to increase their use of digital currencies in 2021, and 57% of consumers want to earn crypto through rewards programs.
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