Bitcoin Breaks $100,000 As McDonald's Brings Back The McRib: Buy Signal Or Spurious Correlation?

Bitcoin's BTC/USD surge past $100,000 on Thursday coincided with McDonald's MCD reintroduction of its fan-favorite McRib sandwich, reviving a pattern observed in previous years.

What Happened: According to crypto analyst internbrah, Bitcoin has historically doubled in price following the McRib's return.

In a tweet accompanied by a chart, internbrah stated, "The McRib is back. BTC historically goes up >2x after the McRib returns. Don't fade the McRib."

The chart he attached illustrates a compelling correlation: Bitcoin experienced significant price rallies in 2020, 2021, and now in 2024, aligning with the sandwich's reappearances on McDonald's menus.

This year, Bitcoin peaked at $103,679 before settling at $102,650 level, reflecting a 6.3% increase over the last 24 hours.

Also Read: Bitcoin To Emerge As ‘Premier Store Of Value Asset,’ Hit $1 Million By 2033, Says Bernstein

Guillaume Huin, McDonald's Senior Marketing Director, joined the playful conversation on social media, tweeting, "Bitcoin reaching 100K the exact day McRib is back is f—ing hilarious."

The coincidental timing has sparked amusement and speculation across both crypto and fast-food communities.

McDonald's McRib returned to U.S. menus on Dec. 3, making its first nationwide comeback since 2022.

The 520-calorie sandwich, featuring seasoned pork drenched in tangy BBQ sauce and topped with onions and pickles, has a long history of limited-time releases.

Despite a 2022 "farewell tour," the McRib's surprise reappearance coincided with Bitcoin breaking new price milestones.

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