According to the British "Sun" recently reported, McDonald's tweeted and ridiculed Musk's speculation in the cryptocurrency market, and the cryptocurrency Grimcoin created by speculators with the image of McDonald's mascot soared 285641%.
As soon as the tweet broke, the virtual coin Grimacecoin soared from $0.0007 (about 0.004453 yuan) at the time of issuance to a peak of $2 (about 12.72 yuan), and the total market value reached $2 million (about 12.72 million yuan) at its peak. However, this virtual currency is not created by McDonald's itself, and even the tweet sent out as many as 10 virtual coins with the same name appeared on the market, but these speculative coins are only used to cut leeks, and most of its liquidity (the coin itself) is in the hands of a few people (that is, the banker), whether the coin has a so-called "value", can only look at the faces of these people.
Musk's fame in the virtual cryptocurrency market is mainly due to his hype about "Dogecoin" and "Bitcoin." In February 2021, Tesla revealed in a filing with the U.S. Securities and Exchange Commission that it had acquired about $1.5 billion (about 9.542 billion yuan) of bitcoin, a move that pushed the price of bitcoin directly to the $50,000 (about 318,100 yuan) mark. On March 24, Tesla's official website showed that it officially supported bitcoin payments, and the price of bitcoin continued to skyrocket, reaching a maximum of 64,000 (about 407,100 yuan) US dollars.
However, speculation is "buying is to sell", on May 12, 2021, Musk first proposed on Twitter that Bitcoin's carbon emissions consume too much energy, announcing that he would suspend the use of Bitcoin to buy Tesla, and the price of Bitcoin instantly dived. On May 17, Musk tweeted another suspected hint that Tesla might sell bitcoin, triggering a bitcoin crash, and the lowest price almost fell below $30,000, erasing all the gains since the end of January.
This time McDonald's imitated Musk's original practice of promoting Bitcoin and Dogecoin, in order to satirize Musk and the virtual cryptocurrency market, Musk's attitude is unknown, but the market's reaction is indeed surprising.
Bitcoin was proposed by Satoshi Nakamoto in 2008 and officially born in 2009, according to the founder's thinking, Bitcoin's transaction records are open and transparent, and peer-to-peer transmission means that this payment system is decentralized. Even if it is invested in capital operations and begins to be invested and speculated as an asset, it is still a market that cannot be manipulated by anyone.
However, Musk's series of speculative operations, and even today's McDonald's satire of Musk, all show the fragile side of this market, as the bond between the cryptocurrency market and the world is getting deeper and deeper, the involvement of the capital world in this so-called "unmanageable" market has also been correspondingly strengthened, whether cryptocurrencies are "digital gold" or "air scams", we wait and see.
Image source: The Sun, Network