New Delhi: The cryptocurrency called Grimescoin has jumped 6,000% due to a funny Twitter conversation between Tesla CEO Elon Musk and McDonald’s. The saga began on January 25, when Musk announced on Twitter that he would eat “Happy Meals” on TV if McDonald’s started accepting Dogecoin as payment.
In response to Musk’s remarks, the official handle of Dogecoin shared a video meme that included a poster of Dogecoin and snacks from McDonald’s. Following Dogecoin’s tweet, several other DOGE enthusiasts began requesting McDonald’s to accept Dogecoin as a method of payment.
McDonald’s soon responded to Musk’s request, saying the company would accept DOGE if Tesla started accepting Grimescoin as a form of payment. After McDonald’s tweet, the price of Grimescoin started to jump.
For those unaware, GrimesCoin is a cryptocurrency inspired by the Grimace character who was once featured in McDonald’s commercials. However, GrimesCoin is a private coin and is not associated with McDonald’s or Elon Musk.
The coin was quickly created on the Binance smart chain following McDonald’s tweet, and its creator remains anonymous. While McDonald’s was having fun with Musk, it looks like crypto enthusiasts were really hoping GrimesCoin was on to something. But it appears that GrimesCoin was nothing but a time-bound scam.
McDonald’s arch rival Burger King also responded to Musk’s tweet. “Only a king knows what Da Coin does,” the company’s social media handle said. Previously, BurgerKing had promoted with Dogecoin in major markets including Brazil.
Over the past few days, the cryptocurrency has been facing a severe downtrend. According to a report by IANS, over 30,000 bitcoin millionaires have been wiped out in the last three months as the volatile cryptocurrency continues to see a decline. Read also: BoAt IPO: Consumer electronics brand files documents for IPO, check offer details
The bitcoin price has fallen from $69,000 in November to nearly $36,000 (as of Thursday) — due to regulatory scrutiny and geopolitical unrest, the report said. Read also: Breaking: Air India handed over to Tata Group, Maharaja returned home after 69 years
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