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Elon Musk said earlier this week that he would eat McDonald's Happy Meal live on TV if the fast-food chain would accept Dogecoin as payment. The Tesla and SpaceX owner made the declaration via social media post on Twitter.
It was reported that the value of the cryptocurrency, Dogecoin, has surged on Tuesday afternoon by around 6.5% after Musk posted his tweet. Based on the data from Nasdaq, the increase went from $0.127 at the market opening to $0.141.
According to USA Today, the 50-year-old multi-billionaire has long been advocating for the use of cryptocurrency. In fact, last year, he caused a stir online when he tweeted about Dogecoin and said it is "the people's crypto." There were various reactions, with some people criticizing him for promoting the digital currency while others simply believe in him.
In October of last year, Musk was asked why he keeps supporting Dogecoin, and he explained that many people around him own the said crypto. "Lots of people I talked to on the production lines at Tesla or building rockets at SpaceX own Doge. They aren't financial experts or Silicon Valley technologists. That's why I decided to support Doge – it felt like the people's crypto," he said.
— Dogecoin (@dogecoin) January 25, 2022
Meanwhile, McDonald's has responded to Elon Musk's crypto proposal. Fox Business reported that the fast-food chain posted a counteroffer to the Tesla chief's suggestion for it to accept Dogecoin.
McDonald's also took to Twitter to give its reply and said it will only start accepting the Doge crypto if his electric car company, Tesla, will also accept "grimacecoin." The chain also uploaded a picture of a purple coin with Grimace's smiling face on the front. Grimace is one of the popular fluffy mascots of McDonald's.
only if @tesla accepts grimacecoin https://t.co/CQrmAFelHR pic.twitter.com/to9HmYJhej
— McDonald's (@McDonalds) January 25, 2022
Then again, the burger joint has not yet announced about the launch of its own crypto coin, so its response is highly likely was only made in jest. In any case, despite the seemingly flippant response, many major businesses have already accepted cryptocurrencies as payment, such as AMC, Whole Foods, and Starbucks in countries where crypto has already been made legal such as El Salvador.
