Millions of customers dining at 500 restaurants across the United States will soon be able to earn bitcoin points, thanks to a partnership between restaurant giant Landry’s and the New York Digital Investment Group (NYDIG). Additionally, Landry said he would buy bitcoin for his cash. “We see bitcoin as a good choice for a portion of our own cash flow, so we want to offer that choice to our customers as well.”
Earn Bitcoin points by eating at 500 restaurants
Restaurant giant Landry’s on Tuesday announced a partnership with New York Digital Investment Group (NYDIG) “to fuel a bitcoin loyalty rewards program for the millions of customers of Landry’s loyalty program – Landry’s Select Club.” NYDIG is the bitcoin investment arm of Stone Ridge Asset Management.
The announcement details:
This partnership will allow Landry’s Select Club members to earn bitcoin points when they dine at one of its 500 establishments nationwide.
“The Landry’s Select Club program currently offers one point of rebate for every dollar spent, with 250 points translating into a reward of $ 25,” the company explained.
The restaurant giant told CNBC it hopes to launch the new Bitcoin program before Thanksgiving. The program will then be accessible to 3.2 million members of its loyalty program.
“Customers who opt for the new bitcoin loyalty program can receive points that track the value of bitcoin and can be redeemed in $ 25 reward increments based on the market price of bitcoin at the time of the exchange.” the company explained. “All bitcoin loyalty points can only be redeemed for Landry’s Select Club rewards and will not be transferable outside of Landry’s Select Club.”
Landry’s operates more than 500 high-end, casual dining establishments, including more than 60 award-winning brands. Some well-known restaurants in Landry include Landry’s Seafood, Bubba Gump Shrimp Co., Rainforest Cafe, Mitchell’s Fish Market Restaurants, Morton’s Steakhouse, The Oceanaire, McCormick & Schmick’s Seafood, Chart House, Saltgrass Steak House, Claim Jumper and Mastro’s Restaurants.
To support the program, Landry’s said it will invest in bitcoin through NYDIG’s institutional grade custody solution, elaborating:
Beyond managing the program, Landry’s also announced its intention to hold part of its bitcoin cash reserves through NYDIG.
Trey Zeluff, Director of Digital Asset Strategy at Landry, said, “We see bitcoin as a good choice for a portion of our own cash flow, so we want to offer that choice to our customers as well. “
What do you think of Landry’s bitcoin points program and his plan to hold some of his cash reserves in BTC? Let us know in the comments section below.
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