Well-known entrepreneurs and cryptocurrency proponents who have been tweeting memes of odd jobs amid the ongoing market crash have been joined by global fast food giant McDonald’s, a brand infamous for being associated with temporary Bitcoin (BTC) market crashes.
The price of BTC has been steadily falling since it hit an all-time high of $69,000 in November 2022. Eventually, when BTC started trading below the $40,000 mark, crypto millionaires and investors on Twitter started sharing memes about finding jobs in fast food restaurants.
El Salvador’s President Nayib Bukele has embraced meme culture as well and uploaded a new profile picture of him during one of his speeches wearing a cap and a heavily photoshopped McDonald’s T-shirt.
#NewProfilePic pic.twitter.com/YVDlBoA2Cq — Nayib Bukele (@nayibbule) January 22, 2022
Joining in the fun with many others, McDonald’s acknowledged ongoing developments on cryptocurrency Twitter by following influential members of the community such as Cardano founder Charles Hoskinson and Altcoin Daily. The account gained more attention when it tweeted:
How are the people who have cryptocurrency accounts on Twitter — McDonald’s (@McDonalds) January 24, 2022
While Binance answered the question with a photo of a crying face hidden behind a smiling mask, McDonald’s comforted the world’s largest cryptocurrency exchange with “wagmi”, short for “we’re going to do it.”
wagmi’s friend — McDonald’s (@McDonalds) January 24, 2022
However, Bukele seems to have big plans.
Related: Bitcoin could outperform stocks in 2022 amid Fed tightening – Bloomberg analyst
Despite uncertain market conditions, Bloomberg commodities strategist Mike McGlone believes BTC can make a comeback as investors recognize its value as a digital reserve asset.
According to Cointelegraph, McGlone stated:
“Cryptocurrency ranks first among risky and speculative instruments. If risky assets decline, it helps the Fed fight inflation. By becoming a global reserve asset, Bitcoin could be the main beneficiary in this scenario.”
The analyst expects the “strong trio” — BTC, Ether (ETH) and USD-pegged stablecoins — to maintain dominance throughout 2022.
