Gwyneth Paltrow, the Hollywood A-lister, announced she’s giving away $500,000 in Bitcoin to her Instagram and Twitter followers for the holiday via cash app.
Gwyneth Paltrow fans to receive $500,000 in Bitcoin
For Gwyneth Paltrow fans, it appears that Christmas has arrived early: The Hollywood starlet announced that she will be giving away $500,000 in Bitcoin to her Instagram and Twitter followers.
“I’ve long been a believer in democratizing Bitcoin and making it simple to send it to friends and family,” she wrote on Instagram, adding that she wanted to “do something special for my social community and empower them to learn more about cryptocurrency” by gifting the asset to fans.
Buying crypto has often felt exclusionary. In order to democratize who can participate, @CashApp is now making it easy to gift Bitcoin. I’m giving out $500k worth of Bitcoin for the holidays. Follow @cashapp + drop your $cashtag below w/ #CashAppGifting to enter.
— Gwyneth Paltrow (@GwynethPaltrow) December 20, 2021
Paltrow is the most recent celebrity to participate in Cash App’s November giveaway campaign. A total of $1 million in cryptocurrency is being given away by the app.
Aaron Rodgers, the quarterback of the Green Bay Packers and three-time NFL MVP, announced last month that he would be giving away Bitcoin and receiving a portion of his salary in the cryptocurrency.
Paltrow is collaborating with Cash App
The Cash App is a popular mobile app that allows users to send and receive money as well as purchase Bitcoin. It’s owned by Block, formerly Square, a payments company founded by Bitcoin enthusiast and former Twitter CEO Jack Dorsey.
The company was one of the first to include Bitcoin on its balance sheet last year, and it now owns over 8,000 of the digital currency, which is worth roughly $377 million at today’s price.
Paltrow, on the other hand, is collaborating with Cash App to promote the payment platform’s new feature of sending $1 gifts in Bitcoin and stock.
According to Cash App, fans who comment on Paltrow’s Instagram and Twitter posts will be chosen at random and given up to $100 in Bitcoin, and those who want to win Bitcoin must comment on Paltrow’s social media posts by January 14.
