Elon Musk – If McDonald’s accepted Dogecoin, the Tesla CEO claimed he’d have a Happy Meal on TV.
Elon Musk appeared to be urging McDonald’s to take dogecoin as payment on Tuesday, stating he’d eat a Happy Meal in front of the TV if they did.
Musk stated in a tweet that if fast-food chain McDonald’s Corporation adopts Dogecoin, he is willing to eat a happy meal on television. The Happy Meal is a children’s meal package that includes a main course, a side dish, and a beverage.
Since then, the tweet has received over 39,000 retweets and 262,000 likes. Musk’s comment comes only days after Tesla started accepting Dogecoin as payment for certain of its products.
Dogecoin’s price jumped from £0.10138 to £0.10761 shortly after the tweet.
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Musk boosted the price of the digital coin by tweeting about it several times last year. With a single tweet, Musk has been able to shift the value of the coin by 10 percent.
Some people are worried that Musk’s tweets would cause the market to react aggressively, compounding the problem of price volatility, while others are pleased that it will bring attention to the industry.
“I want a fry,” Billy Markus, the cofounder of dogecoin, tweeted in response to a McDonald’s post showing a picture of fries last week. McDonald’s then responded to Markus’ tweet with a photo of the dogecoin mascot, a shiba inu.
McDonald’s did not answer to Musk’s tweet or Insider’s request for comment on the topic right away.
Another user responded to Markus’ post last week by saying, “If you guys took Dogecoin payments, I would attend more regularly.” “We appreciate hearing your interest and are always evaluating the payments experience,” McDonald’s responded.
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What You Should Know
Musk has long been a proponent of Dogecoin. He encouraged interest in the token, driving up its price to around 70 cents in May 2021, just before the market crash, when it dropped more than half of its value.
At one point, the market capitalization of Dogecoin topped $90 billion, rendering it even more valuable than Snowflake, Moderna, FedEx, Uber, and BMW. Based on overall market capitalisation in the cryptocurrency ecosystem, Dogecoin was ranked as high as 5th.