Kroger Company (The) (NYSE:KR), PayPal Holdings (NASDAQ:PYPL) – Get Paid Bitcoin To Shop At Kroger


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.

 

 

© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.



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