If You're Bitcoining A McDonald's Big Mac, Here's How Much Gains You Could Miss If It Reaches Cathie Wood's $1M Price Target

A viral video of a man purchasing food at McDonald’s using Bitcoin BTC/USD has been making waves on social media platforms like Reddit and X. The footage showcases a payment method that is gaining traction in El Salvador, the first country to accept Bitcoin as legal tender.

What Happened: While adopting Bitcoin as a payment option seems exciting, it may not be the most prudent choice if Bitcoin’s price experiences a significant surge in the future.

Let’s consider an example: Imagine you bought a Big Mac worth $5.53 using Bitcoin today when its price was $26,454.20 per coin. This transaction would have required approximately 0.00020 BTC. However, suppose Bitcoin manages to reach the price target of $1 million, as predicted by Ark Invest CEO Cathie Wood.

During a Bloomberg interview in May 2021, Cathie Wood made her initial bold price prediction, foreseeing that Bitcoin would reach $500,000 by the year 2026. Later, in early 2022, she raised the higher stakes, revising her prediction to Bitcoin hitting $1 million by 2030.

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Why It Matters:  In this scenario, the implications become apparent. If Bitcoin were to achieve a value of $1 million, your purchase of the Big Mac would represent a missed opportunity. Based on the initial purchase price, this means you would have potentially missed out on a substantial 3700% increase in value.

Image Credits – Shutterstock

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