Robinhood Rings In New Year With $2.5 Million Bitcoin, Dogecoin Giveaway: CEO Vlad Tenev Celebrates Customer Loyalty

Robinhood Markets Inc. HOOD launched 2025 with a strategic customer engagement initiative, distributing $2.5 million worth of Bitcoin BTC/USD and Dogecoin DOGE/USD to existing users during New Year’s Eve, attracting active users to its platform during the holiday.

What Happened: The company’s CEO Vlad Tenev emphasized 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

— Vlad Tenev (@vladtenev) January 1, 2025

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

— Robinhood (@RobinhoodApp) January 2, 2025

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

— amit (@amitisinvesting) January 1, 2025

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Why It Matters: The promotion’s success highlights Robinhood’s evolving strategy in customer engagement, particularly as the company’s stock has surged more than 200% over the past year. Trading at $37.26, Robinhood’s market capitalization stands at $32.93 billion, with a price-to-earnings ratio of 64.24, according to data from Benzinga Pro.

Recent analyst coverage reflects growing confidence in Robinhood’s direction. Morgan Stanley set a high price target of $55 in November, while the consensus among 16 analysts suggests a target of $38.19. The three most recent analyst ratings from Keefe, Bruyette & Woods, Barclays, and Needham average $46.33, implying a 24.38% potential upside.

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

Read Next:

• Bitcoin, Ethereum, Dogecoin Begin New Year On A Healthy Note: Analyst Says This Blue Chip Crypto Can Witness ‘Good Amount Of Action’ In Early 2025

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

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