Photo: Gwyneth Paltrow

Gwyneth Paltrow announced that she is giving away $500,000 worth of Bitcoin in partnership with Block's Cash App. Although her tweet was initially perceived as that the actress's Twitter account had been hacked, Paltrow snapped a photo of herself using the app to convince that her message was credible.

On Monday, American actress and entrepreneur Gwyneth Paltrow announced on her Twitter account that she is giving away $500,000 worth of Bitcoin in partnership with Block's Cash App. She said the popular payment service is helping to democratize the process of investing in cryptocurrency.

To participate, her fans must post their $Cashtags on Twitter and Instagram to qualify for the giveaway. Each $Cashtags will be able to receive up to $100 worth of Bitcoin.

Buying crypto has often felt exclusionary. In order to democratize who can participate, @CashApp is now making it easy to gift Bitcoin. I’m giving out $500k worth of Bitcoin for the holidays. Follow @cashapp + drop your $cashtag below w/ #CashAppGifting to enter.

— Gwyneth Paltrow (@GwynethPaltrow) December 20, 2021

Some users have speculated that Paltrow's account was hacked to promote cryptocurrency, as has been done on numerous occasions with other celebrity accounts. This forced the actress to provide additional evidence that her tweet was credible. Paltrow posted a photo of her using CashApp in front of a Christmas tree to prove she really was behind the giveaway.

pic.twitter.com/W6Wd8DH6Mc

— Gwyneth Paltrow (@GwynethPaltrow) December 20, 2021

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