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McDonald's Responds to Elon Musk’s Request to Accept Dogecoin

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Wed, 01/26/2022 - 06:02
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Alex Dovbnya
Dogecoin fans have slammed McDonald's for a botched response to Elon Musk’s offer
McDonald's Responds to Elon Musk’s Request to Accept Dogecoin
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Fast food giant McDonald’s is facing backlash after botching its response to Tesla CEO Elon Musk

As reported by U.Today, the centibillionaire asked the Chicago-headquartered corporation to accept Dogecoin. In return, he promised to eat its Happy Meal on television.

McDonald’s has seemingly backed away from the offer by tweeting that it will accept Dogecoin if Tesla accepts “Grimacecoin.”

The name of the made-up cryptocurrency was inspired by Grimace, a purple anthropomorphic creature that started appearing in McDonald’s commercials in the early 1970s. It was originally supposed to be a mean-looking character with four arms that would steal kids’ milkshakes. However, Roy Bergold, McDonald's creative officer, told QSR Magazine that “Evil Grimace” had turned out to be a failure because it was too scary for kids.

Just minutes after the McDonald’s tweet, someone created an actual token called “Grimacecoin” on Binance Smart Chain that pumped more than 261,000% within hours before erasing the lion’s share of its gains.

Due to the low barrier to entry, BSC has become a hotbed for quick pump-and-dump projects, which is why investors should exercise caution.

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A missed opportunity    

The Dogecoin community was largely dissatisfied with the response. Many pointed to the fact that it took the company’s marketing team over 10 hours to come up with such an offer.

Dogecoin co-founder Billy Markus commented that the Grimacecoin tweet was a textbook example of how to make something fun unfunny.

Glauber Contessoto, who made headlines as a self-proclaimed “Dogecoin millionaire” last year, tweeted that the world’s restaurant chain had “fumbled an incredible opportunity for a terrible joke.”

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.