Mcdonald’s Jumps On Bitcoin Meme Wagon, Crypto Twitter Responds
On the Twitter platform, cryptocurrency traders and billionaires began tweeting jokes about landing job positions at fast-food restaurants when the prices of Bitcoin dropped below $40,000. Global fast-food giant McDonalds also took part and joined the meme wagon. Let’s discover how McDonald’s got a jump start and how it embraces the trend.
How Did the Crypto Meme Wagon Start?
In November 2021, the price of Bitcoin reached a record high of $69000. After reaching all-time highs, Bitcoin prices have been steadily dropping. The crypto meme wagon was triggered when BTC started trading below the mark of $40000. The cryptocurrency millionaires started posting memes about doing jobs at restaurants like McDonald’s.
By observing this growing crypto meme trend, President Nayib Bukele jumped on the meme culture. He posted his updated profile picture on his Twitter account, which was crudely edited with a McDonald’s branded cap and T-shirt.
How Has Mcdonald’s Responded to The Continuing Crypto Developments?
McDonald’s recognized the constant hustles on Twitter regarding crypto meme culture by following some powerful crypto representatives. The Twitter platform got even more traction when McDonald’s posted a tweet asking how are you doing people who run crypto Twitter accounts? Binance, the world’s biggest cryptocurrency exchange platform, responded to the tweet by posting an image of a crying character covered with a smiling mask. McDonald’s attempted to comfort Binance by using the hashtag wagmi friend, which stands forwe’re going to make it.
Mike McGlone, a strategist at Bloomberg Commodity, says investors are beginning to recognize BTC’s value as a digital reserve asset despite the uncertain market condition. In 2022, analysts predicted that the enduring trio of Bitcoin, Ether, and USD-pegged stablecoins would remain dominant.
Is Mcdonald’s Accepting Bitcoin Payments?
Cryptocurrency has become a hot-button issue that is driving intense debate and discussion across the globe. More and more businesses are adopting this digital currency as a method of payment to avoid third-party verification and reduce transaction processing costs.
Mcdonald’s adopted Bitcoin as a method of payment in September 2021. The day after the government declared Bitcoin as legal tender, McDonald’s began accepting Bitcoin in El Salvador. Not only this fast-food giant but many other companies across the globe are using digital currencies for payment. It is more surprising that several other countries are planning to legitimise cryptocurrency soon after El Salvador did. However, Mcdonald’s is not accepting cryptocurrency widely as a source of payment at the moment as it will significantly slow down the payment procedure and will be expensive for the users.