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Get Paid Bitcoin To Shop At Kroger

Benzinga logo Benzinga 11/13/2020 Chris Katje
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Shoppers at the largest grocery chain in America can start earning Bitcoin for making their normal everyday purchases.

Bitcoin prices have soared to the $16,000 level and some analysts think it could be headed to $20,000.

What Happened: America’s largest grocery chain and second largest general retailer The Kroger Co (NYSE: KR) is offering a new program to reward shoppers.

The company partnered with Bitcoin exchange Lolli.

Shoppers will earn up to 1.5% in Bitcoin back on grocery orders for pickup or delivery.

Related Link: 3 Small-Cap Bitcoin Stocks That Could Benefit From Square’s Purchase

Why It’s Important: Lolli is a cryptocurrency startup that has raised $5.4 million to launch a mobile app and expand internationally. 

Investors in Lolli include Ashton Kutcher, Ipsy co-founder and beauty entrepreneur Michelle Phan and a unit of Peter Thiel’s Founders Fund.

Kroger could be doing this partnership to gain market share over rivals like Walmart Inc (NYSE: WMT).

The company reported second-quarter adjusted revenue up 14.6% year-over-year to $30.5 billion.

Digital sales increased 127% year-over-year in the second quarter for Kroger.

Benzinga’s Take: Stocks that have expanded their bitcoin offerings include Square Inc (NYSE: SQ) and Paypal Holdings (NASDAQ: PYPL).

Kroger could have a winning partnership here to gain market share from customers who want to invest in Bitcoin and make their everyday purchases.


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