Elon Musk had announced on January 14 that Dogecoin could be used to buy Tesla merchandise.
Tesla boss Elon Musk will eat McDonald’s Happy Meal on television on one condition: if the American fast-food chain accepts meme-based cryptocurrency Dogecoin.
Happy Meal is a kid’s meal sold by McDonald’s in a red cardboard box with its logo on it. The meal comes with a toy.
The Tesla chief executive officer (CEO), who is the richest person in the world, is known for influencing the value of Dogecoin through his social media comments. His tweet on January 25 got more than 54,000 likes in a matter of minutes.
I will eat a happy meal on tv if @McDonalds accepts Dogecoin
— Elon Musk (@elonmusk) January 25, 2022
On January 14, the billionaire had announced that Dogecoin could be used to buy Tesla merchandise. Elon Musk’s tweet led to a sharp increase in the value of the digital currency.
Musk has also described dogecoin as “people’s crypto”. His comments have helped the meme coin surge 5,859 per cent over 2021, according to data from Coinbase website.
In October, Musk had said that his cryptocurrency holdings were limited to Bitcoin, Ethereum and Dogecoin.
In an interview with Time magazine, the Tesla and SpaceX chief had added that when came to transactions per day, Dogecoin was a better currency.
“The transaction value of Bitcoin is low and the cost per transaction is high. At least at a space level, it is suitable as a store of value. But fundamentally, Bitcoin is not a good substitute for transactional currency,” Elon Musk told the magazine. “Even though it was created as a silly joke, Dogecoin is better suited for transactions. The total transaction flow that you do with Dogecoin is… transactions per day has much higher potential than Bitcoin.”
The entrepreneur added that Dogecoin could be inflationary, “And that’s actually good because it encourages people to spend, rather than sort of hoard as a store of value,” he said.
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