Chipotle to Give Away $200,000 in Burritos and Bitcoin

Chipotle launches 'Burrito or Bitcoin' interactive game to mark National Burrito Day. It's giving away $100,000 of each.
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Would you like some bitcoin to go with that burrito?

Chipotle Mexican Grill  (CMG) - Get Report said Tuesday that it would be celebrating National Burrito Day on April 1 by giving $100,000 in free burritos and $100,000 in bitcoin.

The Newport Beach, Calif., company said it was teaming up with Stefan Thomas, founder and chief executive of Coil, to launch an interactive game called "Burritos or Bitcoin."

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Thomas, a programmer who lives in San Francisco, made headlines by losing the login to his hard drive that stored $387 million in bitcoin. 

He had lost the paper on which he'd written the password for his IronKey, which gives users 10 guesses before it seizes up and encrypts its contents forever. In January, Thomas said that he had "made peace" with the loss.

In that spirit, Chipotle said it is encouraging fans to carry out a mock "chiptocurrency" rescue mission and crack the code on its digital wallet. 

Each player will have 10 tries to guess a valid six-digit code for a chance to win a free burrito or up to $25,000 in bitcoin. 

The company said 10,000 participants will win a free burrito, 50 will win $500 in bitcoin, and three will win $25,000 in Bitcoin.

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Shares of the burrito chain at last check were off 1.2% to $1,407.35.

"National Burrito Day is a huge moment for Chipotle as our fans traditionally flock to our restaurants and digital platforms to order their favorites," Chris Brandt, chief marketing officer. 

Withal, Chipotle told TheStreet by email that "we do not have plans to accept bitcoin as payment in our restaurants or through digital platforms."

Last week, Tesla  (TSLA) - Get Report CEO Elon Musk said the company would accept the digital currency as payment for its electric vehicles.

Musk said that Tesla would use only internal and open-source software and that any bitcoin paid to the company would be retained as bitcoin and not converted to a fiat currency.

Chipotle recently said that it invested in a $500 million Series C funding round for Nuro, a service that operates a fleet of occupant-free, self-driving robotic vehicles for food delivery