Back in January 2022, Elon Musk took to Twitter to offer the McDonald’s fast food chain to accept Dogecoin. The subject popped up again when a Twitter user Dogedesigner asked Elon Musk whether his offer is still open.
Dogecoin (DOGE) advocate Elon Musk has reaffirmed his offer to eat a Happy Meal live on TV if McDonald’s Corporation (NYSE: MCD) adds the meme crypto as a payment method. The billionaire confirmed that on Twitter.
Is this offer still open? pic.twitter.com/lTE4wdl0jf
— DogeDesigner (@cb_doge) January 27, 2023
Back in January 2022, Elon Musk took to Twitter to offer the McDonald’s fast food chain to accept Dogecoin. In response, McDonald’s said that would happen only if Tesla Inc (NYSE: TSLA) accepted GrimaceCoin (GRIMACE). The latter is a meme coin that was basically introduced as a result of this interaction between the billionaire and the fast food corporation on Twitter. Grimace is a large, purple, and fluffy character featured in McDonaldland commercials, Ronald McDonald’s best friend and sidekick. Notably, started as a McDonald’s fan coin, GrimaceCoin quickly became a worldwide media sensation that captivated the nostalgia of the whole world. The token is built on the Binance Smart Chain (BSC) and bridged to Ethereum and Crypto.com Chain, which makes it easily accessible to a wide range of users.
The subject popped up again, a year after the initial Musk’s proposal. A Twitter user Dogedesigner asked Elon Musk whether his offer is still open. The billionaire’s answer was the 100 emoji that indicated that he still stands by his offer.
Recently, Binance has published a short survey to show how likely it is that McDonald’s will actually accept Dogecoin for payments. According to Binance, the fast food corporation simply wants to generate free publicity and engagement with the crypto community via its tweets. Beyond tweets, McDonald’s “has yet to show any aspirations regarding crypto.”
Dogecoin is an open-source cryptocurrency that features a Shiba Inu, a Japanese breed of dog, as its logo. Being the ninth-largest cryptocurrency in terms of market capitalization, DOGE is in the top 10 cryptocurrencies. Launched back in 2013, Dogecoin had grown to a high of $0.68 by May 2021, compared to a value of just under one penny at the beginning of the year. Elon Musk was partially responsible for the massive growth after calling Dogecoin his favorite cryptocurrency.
Following Elon Musk’s announcement of Twitter’s acquisition in October of last year, Dogecoin had a more than 150% increase, which allowed it to reenter the top 10 cryptocurrencies by market capitalization after a decline.
Dogecoin has already been chosen as a method of payment by a number of companies. For example, Twitch, one of the world’s most popular live-streaming services, has been accepting Dogecoin payments since 2014, before the coin saw a popularity boom. The online electronics retailer Newegg also added DOGE as a payment method in April 2021. Tesla also allows paying for some of its products with DOGE. Other companies that advocate for Dogecoin are GameStop, AirBaltic, The Kessler Collection, Keys4Coins, Menufy, and more.