Elon Musk, McDonald's fun-intended Twitter tittle-tattle pushes GrimaceCoin to jump 6000%

New Delhi: Tesla CEO Elon Musk and McDonald's fun-intended Twitter conversation has led to a 6,000% jump in a cryptocurrency called GrimaceCoin. The saga started on January 25, when Musk took to Twitter to announce that he would eat a “Happy Meal” on TV if McDonald’s started accepting Dogecoin as a form of payment. 

I will eat a happy meal on tv if @McDonalds accepts Dogecoin — Elon Musk (@elonmusk) January 25, 2022

Responding to Musk’s comment, Dogecoin’s official handle shared a video meme that included Dogecoin’s poster and McDonald's snacks. Following Dogecoin’s tweet, several other DOGE enthusiasts started requesting McDonald’s to accept Dogecoin as a mode of payment. 

McDonald’s soon responded to Musk’s request, saying that the company would accept DOGE if Tesla started accepting GrimaceCoin as a form of payment. Following McDonald’s tweet, GrimaceCoin’s price started to jump. 

only if @tesla accepts grimacecoin https://t.co/CQrmAFelHR pic.twitter.com/to9HmYJhej — McDonald's (@McDonalds) January 25, 2022

For the unversed, GrimaceCoin is a cryptocurrency inspired by the Grimace character that was once featured in McDonald’s commercials. However, GrimaceCoin is a private coin and is not associated with McDonald’s or Elon Musk. 

The token was quickly created on the Binance Smart Chain after McDonald’s tweet, and its creators remain anonymous. While McDonald’s was just having fun with Musk, it seems that crypto enthusiasts literally started hoping that GrimaceCoin is up to something. But it appears that GrimaceCoin was nothing but a well-timed scam. 

McDonald’s arch rival Burger King was also quick to respond to Musk’s tweet. The company’s social media handle said, “Only a king knows what da coin do.” Previously, BurgerKing had conducted promotions with Dogecoin in key markets, including Brazil.  

In the past few days, cryptocurrencies are facing a serious downfall. According to a report by IANS, more than 30,000 Bitcoin millionaires have been wiped in the last three months as the volatile cryptocurrency is witnessing a free fall. Also Read: BoAt IPO: Consumer electronics brand files papers for IPO, check offer details

Bitcoin prices have fallen from $69,000 in November to nearly $36,000 (as of Thursday) -- owing to regulatory scrutiny and geopolitical unrest, the report added. Also Read: Breaking: Air India handed over to Tata Group, Maharaja comes home after 69 years

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