Elon Musk pushed McDonald’s to accept Dogecoin as payment.
McDonald’s will be the latest corporation to join on the Dogecoin bandwagon if Elon Musk gets his way.
Elon Musk, a long-time supporter of Dogecoin, called on McDonald’s on Tuesday to accept the meme coin as a valid means of payment for burgers and fries. If McDonald’s agreed to his proposition, the billionaire pledged to give them some publicity.
According to Coinbase, the price of Dogecoin increased by more than 7% after Musk’s tweet, reaching $0.14.
McDonald’s did not immediately react to The Washington Post’s request for comment, but it did respond to Musk’s tweet, stating:
“only if Tesla accepts grimacecoin.”
In the days leading up to Musk’s offer, McDonald’s has been actively engaging with the crypto community on social media. Last week, McDonald’s reacted to a Twitter user who stated that if the fast-food company accepted Dogecoin, he would dine there more frequently.
On Monday, McDonald’s also mentioned cryptocurrencies, such as bitcoin, Ethereum, and Dogecoin suffered significant price fluctuations. Cryptocurrencies have been unpredictable in recent weeks as investors reduce their exposure to riskier investments in anticipation of the Federal Reserve’s planned interest rate rises.
El Salvador’s President Nayib Bukele published a meme of himself in a McDonald’s uniform on Monday, as the price of bitcoin plummeted. El Salvador became the first country to accept bitcoin as legal cash last year, thanks to Bukele’s leadership.
Dogecoin’s value skyrocketed earlier this month when Musk said that Tesla will accept it as payment for goods and other things on its website. Items like Tesla’s “Cyberquad for Kids” and a commemorative Tesla belt buckle were rapidly priced in Dogecoin.
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