Gwyneth Paltrow enters the cryptocurrency world with Cash App, announcing a Bitcoin giveaway on her Twitter profile.
Gwyneth Paltrow gives away Bitcoin
Thanks to the collaboration with Cash App, Gwyneth Paltrow has kicked off a Bitcoin giveaway totaling $500,000 for the Christmas season.
The post also explains how the giveaway works: follow Cashapp’s Twitter profile and reply under the actress’ tweet your Cash App username with the hashtag #CashAppGifting.
The actress posted a photo of herself celebrating the initiative:
What’s unique are the reasons that prompted her to participate. In fact, she writes on Twitter:
“Buying cryptocurrency has often felt exclusionary. To democratize who can participate, @CashApp now makes it easy to give away Bitcoin.”
Basically, the initiative was created to democratize the cryptocurrency space.
Using a celebrity with over 2.7 million Twitter followers is a great way to get them known and broaden their horizons.
Cash App’s partnerships
Cash App, owned by Jack Dorsey’s Block (formerly Square), is working on expanding the cryptocurrency space by counting on VIPs as testimonials.
Gwyneth Paltrow is the latest in order of time. Before her, it was the turn of rapper Megan The Stallion, who made introductory videos about the world of Bitcoin and cryptocurrencies.
Christmas gifts in cryptocurrencies
On the other hand, Gwyneth Paltrow will be sponsoring the new feature of Cash App designed for Christmas: the possibility of giving Bitcoin as a gift. Thanks to this feature, you can donate Bitcoin for a minimum of 1 dollar. The unique thing is that you don’t need Bitcoin in your wallet for gifting. With this move, Cash App (and Jack Dorsey) aim to expand the user base that uses cryptocurrencies.
Cash App’s initiative is not the only one in the Christmas season. Coinbase has also launched a feature that allows people to give cryptocurrencies as gifts for Christmas, along with a personalized gift card. The gift recipient will have to open an account on Coinbase if they don’t already have one.
These initiatives fit into this year’s all-Christmas trend of giving away digital assets. It certainly looks like cryptocurrencies and NFTs will be among the most popular GenZ gifts. Cash App and Coinbase have proven to be able to understand the needs of their users, especially during the gift-giving season.