Elon Musk vowed to eat from McDonald's if it starts accepting his favorite memecoin - Dogecoin.
The relationship between the US fast-food chain and the cryptocurrency industry went on another level in the past several days during the market correction. The latest to get involved was Tesla’s CEO – Elon Musk.
Bitcoin and the rest of the crypto space slumped in value in less than a week. The entire market cap lost over $500 billion in five days at one point.
During such steep corrections in a short time, the crypto community tends to seek comfort from memes. One of the favorite topics includes joking about starting to work at McDonald’s.
While this has been going on for years, this latest correction led to several responses from the fast-food chain, including a question that spurred various conversations and more memes.
Furthermore, the official Twitter account of McDonald’s followed the founder of IOHK – the organization behind Cardano – Charles Hoskinson.
Later on, even Elon Musk joined the conversation. The billionaire promised to eat a happy meal on TV if the fast-food chain started accepting payments with Dogecoin.
As with previous Musk engagements, this one led to a sharp price increase for the memecoin. DOGE jumped from $0.135 to above $0.15 before retracing just as quickly.
Jordan got into crypto in 2016 by trading and investing. He began writing about blockchain technology in 2017 and now serves as CryptoPotato's Assistant Editor-in-Chief. He has managed numerous crypto-related projects and is passionate about all things blockchain. Contact Jordan: LinkedIn