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Elon Musk is doing the layman's work for Dogecoin, now asking McDonalds to accept it as a payment option. This new move from Elon towards making Dogecoin a mainstream payment option for everyday use came unexpectedly and through his favorite social media platform, Twitter.
The tech billionaire, who is known to enjoy being provocative, funny, and direct in his communication claimed that he "will eat a happy meal on TV if McDonalds accepts Dogecoin
Although there hasn't been an official response from McDonalds, accepting Dogecoin would be a strategic move. The fast food giant has approximately 40,000 stores around the world (incl. company operated, conventional franchises, developmental licensed, and foreign affiliated restaurants). It also has the biggest market capitalization among its competitors, with more than $170 billion. Its annual revenue in 2020 was $19.2 billion and it served a whopping 25 million costumers on a daily basis.
Why this is a win move
Gen Z and Gen Alpha (the generation born after 2010) are among the main demographics of McDonald's costumers. Such a move by McDonalds would introduce them easily to crypto and have them open their own crypto wallets. Likewise, their parents will also get additional exposure to crypto as a payment option because let's face it, they will be the ones paying for those happy meals for their kids.
Other fast food chains will follow suit for fear of being left behind. Competition is fierce and with crypto the fear of missing out is real. While McDees have not responded yet to Elon's tweet, Burger King went forward and threw the gauntlet saying that they are the ones who know how to do it.
Last it would be a great marketing campaign that will provide a high value media exposure for McDonalds and it will be getting for free.
Elon Musk who is the richest person on earth and one of the most influential people in living memory will be eating on live TV their burgers. If something is certain; Elon is a role model for many and just in Twitter he has more than 71 million people following him. Imagine the impact.
While McDonalds executives are still thinking and debating it over Zoom, who knows maybe some other chain will jump the gun and beat them to it.
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