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Shoppers from the largest grocery chain in America can start earning Bitcoins to do their normal daily purchases.
Bitcoin prices have soared to the $ 16,000 level and some analysts think it could be headed for $ 20,000.
What happened: America’s largest grocery chain and second largest retailer The Kroger Co (NYSE: KR) offers a new program to reward buyers.
The company partnered with the Bitcoin exchange Lolli.
Buyers will earn up to 1.5% in Bitcoin on grocery orders for pickup or delivery.
Related Link: 3 Small Cap Bitcoin Stocks That Could Benefit From Buying Square
Because it’s important: Lolli is a cryptocurrency startup that raised $ 5.4 million to launch a mobile app and expand internationally.
Investors in Lolli include Ashton Kutcher, co-founder of Ipsy and beauty entrepreneur Michelle Phan and a unit of Peter Thiel’s Founders Fund.
Kroger could do this partnership to gain market share on rivals such as 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.
The taking of Benzinga: Stocks that have expanded their bitcoin offerings include Square Inc (NYSE: SQ) e 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 daily purchases.
© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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