McDonald's Exec Stirs Up Bitcoin Crowd With McRib Return
AI summary of the linked articleMcDonald's Senior Marketing Director Guillaume Huin noted on X that the McRib's return has become linked with Bitcoin's price movements, a correlation that social media picked up after the sandwich's U.S. return on Tuesday. Huin said some claim Bitcoin and the S&P 500 tend to perform well after the McRib returns, and that Bitcoin hit a new all-time high when the McRib returned in December 2024. The article notes the trend is not solid: Bitcoin fell to $3,250 in 2018 and $15,500 in 2022 after the sandwich's returns. Bitcoin was around $105,600 on Monday, up 6% from $98,800 at the last McRib season start, according to CoinGecko. |
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2 comments rvolz.ethSubmitter 🥹 “Some claim Bitcoin and S&P 500 tend to perform well after the McRib makes a comeback, particularly in 2017, 2020, 2021,” Guillaume said. “Coincidentally, when the McRib returned to stores in December 2024, Bitcoin hit a new all-time high.” typical gambler's fallacy but funny none the less, it says enough about how people perceive bitcoin. but well isn’t all money a kind of magical thinking? |
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