Robinhood Rewards Existing Users With $2.5M of Bitcoin and Dogecoin During New Year's Eve

Robinhood Markets Inc. (HOOD) launched 2025 with a strategic customer engagement initiative, distributing $2.5 million worth of Bitcoin (BTC) and Dogecoin (DOGE)

Robinhood Markets Inc. (NASDAQ:HOOD) kicked off 2025 with a strategic customer engagement initiative.

The Initiative: Robinhood distributed $2.5 million worth of Bitcoin (CRYPTO: BTC) and Dogecoin (CRYPTO: DOGE) to existing users during New Year’s Eve, aiming to attract active users to its platform during the holiday.

The company's CEO Vlad Tenev highlighted the promotion's focus on existing customer loyalty rather than new user acquisition.

“You may have gotten used to us offering matches and incentives to new customers. These are all about our existing customers,” Tenev posted on X on Wednesday.

You may have gotten used to us offering matches and incentives to new customers. These are all about our existing customers. With gratitude 🙏 have a happy NYE https://t.co/yNmwr4dN5e

Thank you and Happy New Year to our customers. Now buckle up for 2025. $2.5M valued as of 12-30. Terms apply. pic.twitter.com/6vxI0YYiB7

Amit Kukreja, a popular trader on X, reported receiving approximately $5.98 worth of Dogecoin, with the total reward pool being divided among participating customers who accessed the countdown screen at the specified time.

The company also launched a second round of rewards exclusively for Robinhood Gold subscribers on Jan. 1, maintaining momentum into the new year.

$HOOD ROBINHOOD'S NEW YEARS EVE PROMOTION WAS GIVING AWAY $2.5M OF $DOGE DOGECOIN TO EVERYONE WHO WAS ON THE COUNTDOWN SCREEN LAST NIGHT

Today they are having ANOTHER countdown screen award only for Gold Subscribers.

Vlad Tenev, CEO of Robinhood, said that these promotions… pic.twitter.com/qEOhrGK4uS

The promotion comes as several analysts are growing more bullish on Robinhood. Morgan Stanley set a high price target of $55 on the stock in November.

The consensus among 16 analysts covering Robinhood is a price target of $38.19. The three most recent analyst ratings on the stock, from Keefe, Bruyette & Woods, Barclays, and Needham, have an average price target of $46.33 on the stock, which would represent a 24.38% upside from Friday's close.

Now trading at $37.26, Robinhood's market capitalization is $32.93 billion, with a P/E ratio of 64.24, according to data from Benzinga Pro.

The promotion's timing coincides with increased interest in cryptocurrency trading, with both Bitcoin and Dogecoin being key revenue drivers for Robinhood's digital asset trading platform.

This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.