Could there be a link between the McRib, Bitcoin, and the stock market? Some humorously suggest there might be a correlation.
Some observers have humorously noted potential parallels between the three, though they caution against confusing correlation with causation.
The McRib sandwich, a fan favorite, is set to make its return in November, though it won’t be available everywhere.
This move comes a year after McDonald’s temporarily retired the iconic pork delicacy. It’s a routine for the fast-food titan to reintroduce the sandwich yearly as a special offering.
Utilizing the principle of scarcity in marketing is a well-worn strategy: when consumers perceive a product as rare, time-limited, region-exclusive, cost-effective, or available only in finite amounts, they’re often propelled to purchase.
Such tactics can significantly boost a company’s customer base and amplify its earnings.
For instance, as highlighted in a 2010 piece from The Wall Street Journal, the “limited-time” McRib saw sales upwards of 60 million units across a span of three years.
But how does this relate to stocks or the pioneer cryptocurrency?
Realistically, there’s probably no direct link. However, this hasn’t deterred the crypto community from creating and sharing humorous memes connecting the dots for years.
Adding to the jest, Nick Maggiulli, COO of Ritholtz Wealth Management, playfully noted in 2022 that the S&P 500 recorded a minuscule average daily return increase of 0.04% during the times the McRib was available.
The concept of the McRib influencing Bitcoin is an amusing anecdote within the crypto community. Zack Voell’s recent comparison of BTC “reacting” to McRib releases adds another layer to this playful narrative.
A quick glance over the past decade’s BTC prices during McRib’s reintroductions reveals some interesting observations:
- November 2022: BTC fluctuated from around $20,000 in October to $16,000 in November.
- November 2021: BTC reached its zenith at $68,573 in November, a slight increase from October’s high of $67,120.
- December 2020: The coin’s valuation ascended from almost $20,000 at the close of November to $28,885 as December ended.
- October 2019: September’s BTC prices remained stable near $10,800 but descended to about $7,000 in October.
- October 2018: Despite September opening at a high of $7,381, October witnessed a momentary surge to $7,083 amid a general downward trend.
- November 2017: Bitcoin escalated from an October-ending price of $6,370 to $10,400 by November’s close.
- November 2016: Bitcoin surged from $715 in October to reach $750 in November.
- September 2015: While BTC’s peak in September was $244, it had previously touched $284 in August.
- November 2014: BTC’s apex in November was $418, slightly up from October’s maximum of $399.
Analyzing this data, it’s evident that Bitcoin’s price movements occasionally align with the timing of McRib releases, but asserting a direct connection would be whimsical at best. It’s a fun coincidence that provides fodder for crypto enthusiasts and meme creators, but attributing BTC’s consistent long-term growth to a fast-food item would be missing the bigger picture.
The underlying message remains unchanged: Bitcoin’s value has shown an overarching upward trend, independent of pork sandwiches.