The McRib Meme: A Curious Connection to Bitcoin and Stocks
Is there a connection between McRib, bitcoin, and stocks? Some (jokingly) argue there just may be.
Some commenters have opined that the three may be correlated - but without having a causal relationship.
Firstly, the popular McRib sandwich is scheduled for a comeback in November, and it will not be available nationwide.
This announcement came just a year after McDonald's said goodbye (once more) to the famous pork meal. The fast-food giant is known for putting the sandwich back on the menu annually as a limited-time item.
The scarcity tactic in marketing is common: consumers will rush to buy a product they believe is unique, available in limited quantities, exclusive to certain areas, affordable, and/or available for a short period of time.
This helps companies gain more customers and increase profits.
Per a 2010 article in The Wall Street Journal, despite it being "limited", more than 60 million McRibs had been sold over three years.
But what does it have to do with stocks and the world's first crypto?
Well, likely nothing, but that fact hasn't stopped the crypto commenters from making memes on the topic for years now.
In 2022, COO for Ritholtz Wealth Management Nick Maggiulli shared that the S&P 500 saw a 0.04% higher average daily return when McRib was on the menu.
This year, crypto analyst Zack Voell shared a chart of BTC "reacting" to the McRib news.
Notably, it is common for McDonalds to re-release McRib in the last quarter of the year, and while November and December are typically not particularly positive for bitcoin in terms of price, October is well known in the industry as Uptober.
Additionally, bitcoin saw bull runs in 2017 and 2021.
Let's check out BTC's price over the past decade in the months of McRib comebacks:
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