More Than a Meme? Bitcoin Tops $100K as the McRib Returns

BBQ sauce, pickles, onions, and pork: just a day after the much-loved McDonald’s McRib sandwich made its comeback to U.S. restaurants, Bitcoin’s price soared past $100,000 for the first time ever.

While it’s uncertain if these ingredients had anything to do with Bitcoin’s rise, the quirky connection between the sandwich's return and Bitcoin's financial success was hard to ignore on that Wednesday.

The coincidence did not slip by McDonald’s Senior Marketing Director Guillaume Huin, who shared on X (formerly Twitter) his amusement at Bitcoin reaching $100K on the same day the McRib returned. He humorously noted, "Bitcoin reaching 100K the exact day McRib is back is fucking hilarious." According to McDonald's, the "McRib season" officially began on that Tuesday.

For enthusiasts of the crypto world, this peculiar link between the McRib and market fluctuations has been a topic of discussion for quite some time. As anticipation for spot Bitcoin ETFs grew last October, Bitcoin's value notably increased from $28,000 to $35,400 with the sandwich’s return, creating a positive market sentiment among some analysts.

However, it's important to note that this trend isn't always reliable. In previous years — specifically 2018 and 2022 — the McRib's return preceded significant drops in Bitcoin's value, with prices falling to $3,250 and $15,500, respectively.

The McRib was officially removed from McDonald's permanent menu in 2005, but its seasonal offerings have often coincided with broader market trends. From 2010 to 2023, data collected indicates that the S&P 500 posted better daily returns during periods when the McRib was available, as shared by Nick Maggiulli, COO of Ritholtz Wealth Management.

Though Maggiulli was not available for immediate comment to discuss these findings, the popularity of the McRib extends beyond U.S. borders. It made a limited-time return in the U.K. as well, which was highlighted by a pseudonymous user on X named Internbrah, who is associated with the Monad blockchain team.

For traders looking for unorthodox indicators, the return of the McRib presents intriguing questions. Many analysts attribute Bitcoin's recent price surge, largely to President-elect Donald Trump’s electoral victory, to other global influences as well.

Internbrah expressed his belief that the McRib's return serves as a catalyst specifically when it reappears in the U.S. He suggested that it reflects an overall improvement in global liquidity and mentioned his experience using the McRib for trading decisions. He remarked, "Sure, the McRib returning as a catalyst is a funny meme, but as all great memes, it’s rooted in truth. It has never failed me—fade the McRib at your own expense."

Traditionally, McDonald's brings back the McRib in October, November, or December, a timing likely influenced by the market prices of pork and beef materials, according to research from Decision Next.

Notably, Bitcoin has historically performed best in October and November, with average increases of 22% and 46% since 2013, based on data from CoinGlass. Therefore, if the iconic sandwich were to take a long break, other trading memes like “Uptober” or “Moonvember” might take its place on the market scene.

Edited by a contributing author.Bitcoin, McRib, Market