JAKARTA - The price of Bitcoin has been on a steady decline since breaking an all-time high of 69,000 in November 2022. Finally, when Bitcoin started trading below the A.D. 40,000 mark, crypto millionaires and investors on Twitter started sharing memes about getting a job at a fast food restaurant. because of this sharp decline.
A prominent crypto entrepreneur and advocate, who shared a meme on Twitter about doing odd jobs amid the ongoing crypto market crash. They are joined by global fast food giant McDonalds, a brand that has long been notorious for being linked to the Bitcoin (BTC) market crash.
Salvadoran President Nayib Bukele, who embraces a meme culture, also posted a new profile picture showing him in one of his speeches wearing a badly edited McDonald's-branded hat and t-shirt.
Joining in the fun with many others, McDonald's recognizes the ongoing developments in Crypto Twitter by following influential community members such as Cardano founder Charles Hoskinson and Altcoin Daily. The account drew more attention when it tweeted:
While Binance answered questions with an image of a crying face hidden behind a smiling mask, McDonald's entertained the world's largest crypto exchange with "wagmi," short for "we're gonna make it (we are gonna make it)."
Bukele, however, seems to have bigger plans in mind.
Despite the uncertain market conditions, Bloomberg commodity strategist Mike McGlone believes in a possible return of BTC as investors recognize its value as a digital reserve asset.
“Cryptos are at the top among risky and speculative ones. If risk assets decline, it helps fight Fed inflation. Being a global reserve asset, Bitcoin may be the main beneficiary in that scenario,” McGlone said, as quoted by Cointelegraph.
Analysts now continue to expect the “immortal trio” – BTC, Ether (ETH) and USD-pegged stablecoins – to maintain dominance throughout 2022.
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