During the Super Bowl commercial campaign, a cryptocurrency exchange will give away Bitcoin
During the Super Bowl commercial campaign, a cryptocurrency exchange will give away Bitcoin

During the Super Bowl commercial campaign, a cryptocurrency exchange will give away Bitcoin

Zara

3 min
Business & Finance
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<p>As part of a Super Bowl commercial campaign, cryptocurrency exchange FTX is giving away hundreds of thousands of dollars in Bitcoin.</p> <p>The ad will air during the second half of the NFL championship game between the Cincinnati Bengals and the Los Angeles Rams. The sweepstakes will have four winners, but the amount of Bitcoin awarded will be determined by when the advertising airs on the East Coast.</p> <p>For example, if the ad airs at 9:20 p.m. on Sunday, the four winners will each receive 9.2 BTC, which is approximately $390,000 as of Monday afternoon. If the ad is played later in the game, such as at 10 p.m., the reward money rises to 10 BTC, or approximately $425,000.</p> <p>Participants must follow FTX's Twitter account and retweet the exchange's pinned tweet between the time the ad airs on Sunday and 11:59 p.m. that night to enter and win. According to the sweepstakes rules, the four winners will be picked at random.</p> <p>FTX isn't the only exchange taking use of the country's greatest sporting event to draw attention to the burgeoning cryptocurrency market. According to the Wall Street Journal, Coinbase, the largest US exchange, and Crypto.com are both advertising advertisements.</p> <p>"It's a method for us to get our name out there," FTX founder Sam Bankman-Fried remarked. "It's difficult to find a more prominent place to do that than this."</p> <p>Bitcoin, and other cryptocurrencies in general, have had an eventful few months.</p> <p>Bitcoin reached an all-time high of $69,000 in October, as some investors regarded the cryptocurrency as a hedge against inflation. However, Bitcoin has recently fallen in pace with traditional stocks, which have been in decline due to concerns about the Federal Reserve's plan to raise interest rates and the situation in Ukraine. Bitcoin fell below $34,000 last month.</p> <p>Bitcoin has risen from $37,400 on Friday to roughly $44,000 on Monday afternoon. The value of the flagship cryptocurrency has increased by more than 5% in the last 24 hours alone.</p>

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