Want A Tesla Cybertruck? Gemini's New Bitcoin Credit Card Could Be Your Ticket

Cryptocurrency exchange Gemini has teamed up with Tesla Inc. TSLA to give away two limited edition Cybertrucks to celebrate the launch of its Bitcoin BTC/USD credit card on Monday.

What Happened: In an X post, Gemini teased the Mastercard Inc. MA-powered card, created exclusively for Bitcoin users. The card will give back up to 4% in BTC instantly on gas, EV charging, transit, taxis & rideshare, with no annual fees and no fees on foreign purchases.

To mark the occasion, Gemini announced a reward of two Tesla Cybertrucks. The giveaway will run from May 19 to June 18. The two winners will get a chance to win the premium Cyberbeast variant.

The winners would be chosen based on their engagement with Gemini’s products, including purchases through the newly launched card and trading activity on the cryptocurrency exchange.

For every $50 spent on the Gemini Credit Card, users receive one entry into the Cybertruck 1 draw. Similarly, each $50 traded on Gemini earns one entry for the Cybertruck 2 draw.

Why It Matters: The Tesla Cybertruck is an all-electric, full-size pickup truck, known for its unusual, angular design. The base all-wheel drive variant starts at $79,990, while the more expensive Cyberbeast variant costs $99,990.

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This is not the first time Tesla has been linked to Bitcoin. In fact, the Elon Musk-led automobile giant holds over $1 billion in BTC as of this writing, according to blockchain analytics firm Arkham Intelligence.

Price Action: At the time of writing, BTC was exchanging hands at $105,153.86, up 3.31% in the last 24 hours, according to data from Benzinga Pro.

TSLA demonstrated a very high momentum score—a measure of the stock's relative strength based on its price movement patterns and volatility over multiple timeframes—as of this writing. If you’re looking for stocks with a strong momentum score, check out Benzinga Edge Stock Rankings.

Shares of Tesla were up 0.24% in pre-market trading after closing 2.25% lower at $342.09 during Monday’s regular session.