Elon Musk joked that McDonald’s should accept Dogecoin. Here’s why that doesn’t make any sense.

Elon Musk joked that McDonald’s should accept Dogecoin. Here’s why that doesn’t make any sense.

Billionaire Tesla CEO Elon Musk is willing to put his money where his mouth is: "I will eat a happy meal on TV if McDonald's accepts dogecoin," . Musk owns undisclosed amounts of several cryptocurrencies, including Bitcoin, Ethereum, and Dogecoin. His proposal appeared to be a subtle, joking reference to a tweet from McDonald's. "how are you doing people who run crypto twitter accounts," amid and like bitcoin, which that was nearly half its November 2021 all-time high of $69,000. Joke or not, Musk incidentally highlighted just how ridiculous it would be to pay for McDonald's with crypto. McDonald's, of course, doesn't accept any form of cryptocurrency as payment. You can't buy a Big Mac with bitcoin, nor a double cheeseburger with dogecoin. That's because enabling customers to pay with cryptocurrencies would be expensive, extremely niche, and significantly slower than the current payment options. We don't need to look very hard to find a prime example of the problem with paying for goods with cryptocurrency. Take these two "The Works" pizzas from Papa John's, for instance. Over 10 years ago, in May 2010, Jacksonville resident seen above. At the time, 10,000 bitcoin was worth about $25 — a reasonable price