US Fast Food Chain Urges Customers To ‘Buy The Dip While Coinbase Plunges

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Last Updated on 27 July 2022 by CryptoTips.eu

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
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The Daily, the popular podcast by the New York Times, this week discussed the demise of Celsius. It would seem that the journalist’s  advice is for companies to now stay away from crypto as you risk upsetting possible investors and future clients if you get on the wrong side of the investment.

However, with large swaths of Americans eating at fast food chains and so many of them invested in some crypto coin as well (mostly Bitcoin), it was no wonder that a major fast food chain would one day reach out to the crypto community.

Now Chipotle Mexican Grill (almost 3,000 stores, 100k employees) is doing just that with a funny play on words. As the value of cryptocurrencies has followed stocks down in 2022 and the so-called crypto winter has started, Chipotle urges customers to ‘buy the dip’ through a game at their stores.

Not only the guacamole dip or any other dip that goes will with burgers or fries, but the crypto dip and be rewarded in Bitcoin, Ether or Doge. Winners from the Buy the Dip game are set to receive their crypto through a Coinbase account.

Advertentie.

Timing the market bottom

We want to build the next generation of Chipotle fandom by connecting with the Web3 community.

Chris Brandt, Chipotle’s chief marketing officer, explained.

We’re excited to bring positivity to the crypto conversation.

Chipotle seems to think that it is a good time to enter the crypto market and therefore came up with the marketing program. The story trended in US media this week so a win for the fast food chain.

Not everyone is a fan though. The Verge immediately criticized Chipotle for daring to urge customers to try and time the crypto bottom, stating:

It is very difficult to time the market bottom. Encouraging people to try it, even in the form of a game, is irresponsible at best.

Coinbase crashes

Reports of an SEC (securities and exchange commission) investigation into Coinbase’s activities yesterday caused a minor crash in the share value of the largest crypto trader in the US.

Brian Armstrong’s company lost 20% in a day after it turned out that a lengthy investigation by US authorities was its part.

SectoR_2010 / Depositphotos.com