Cash App is a Bitcoin-friendly payments app from Square, a U.S. financial services firm. It has partnered with Grammy-nominated rapper Megan Thee Stallion to conduct a $1 million Bitcoin giveaway.
Megan stated the promotion via Twitter on December 17. At the time of writing, the post has received over 60,000 likes and 8,800 retweets. The rapper encouraged her followers to post "#BITCOINMEG" to be part of the giveaway.
The post does not know how much BTC each person will get. He said: "I'm giving $1 MILLION in Bitcoin to as many hotties as I can." There were numerous responses on Twitter, including screenshots of the winners, indicating that each of them received 50,000 Satoshi (worth approximately $11.40 at the time of writing).
Thanks cashapp and Meg lol I'll hold on to this until my kids are grown
- David Lamar (@ImDavidLamar) December 17, 2020
Many of Meg's followers did not seem to understand the value of Bitcoin received by individual users. In her post, they replied with ultrasound images of unborn babies, links to college application forms, various unfortunate stories, and smiling children's photos gathered around the Christmas trees to pull the heartstrings of the the rappers.
A user stated to have bought a Telsa after misreading that he would receive $50,000.
I thought this said $50,000 when I first glanced at it and I already ordered a tesla, can you help me out again? @theestallion
- luke (@LukeBeVibing) December 18, 2020
Among the calls for help, 'William Clememte III', a computer science major, urged Megan's followers to put together their newly discovered satoshis and shared a picture detailing the German Mark's inflation relative to gold over the past century alongside the plea:
"Don't convert! The whole point of this is to raise understand of bitcoin. Dollars are garbage. 30% of all dollars were printed THIS year. On the other hand, the rate of new supply of BTC cut in HALF. Bitcoin will grow exponentially agains the dollar because it's scarce."
The event seems to have largely succeeded in achieving the goal of promoting Bitcoin and Cash App among non-crypto locals - many of Megan's fans said they downloaded the Cash App specifically to participate in the giveaway, and others said they would further explore crypto after receiving the first satoshis.