Bitcoin Day Event: Block’s $1 Million Bitcoin Giveaway

Cash App, Square, and Bitkey, all part of Jack Dorsey’s Block, are launching Bitcoin Day, a campaign that includes a $1 million Bitcoin giveaway. The initiative aims to incentivize users to buy, spend, and self-custody the digital asset through their platforms.

The event, which was teased last Friday, is scheduled to run from April 6 to April 10. However, it may end early if the full $1 million in Bitcoin rewards is claimed, according to the team behind the promotion.

Participants in the event stand to receive instant bonuses for engaging in at least one of three actions: purchasing Bitcoin on Cash App, using Bitcoin at participating Square merchants, or self-custodying BTC through the Bitkey app.

Upon completion of any of these actions, users will see the bonus applied immediately to their Cash App Bitcoin balance. By completing all three actions, customers can earn a maximum of $80 in total bonuses.

To participate in the event, users must be at least 18 years old, have a US address, maintain a Cash App account in good standing, and complete KYC verification. It’s important to note that residents of New York can buy Bitcoin but are ineligible to participate in the spending or ownership features.

Block, the parent company of Cash App, Square, and Bitkey, currently holds 8,883 BTC, equivalent to about $616 million. This substantial holding ranks Block as the 14th-largest public company that possesses the digital asset.