Some individuals jokingly argue that there may be a connection between the popular McRib sandwich, bitcoin, and stocks. While commenters have speculated on a correlation, there is no evidence of a causal relationship between the three. Let’s explore this topic further.
The Limited-time Marketing Tactic
The McRib sandwich, famously offered by McDonald’s, is scheduled to make a comeback in November, but it will not be available nationwide. This reintroduction comes just a year after McDonald’s bid farewell to the beloved pork meal. McDonald’s has a tradition of including the McRib on its menu as a limited-time item. This marketing tactic, known as scarcity, is commonly used to create a sense of urgency and exclusivity among consumers.
The concept of limited availability can encourage customers to rush and purchase a product they believe is unique, only available in limited quantities, exclusive to specific areas, affordable, and/or accessible for a short period. This strategy helps companies attract more customers and boost their profits. In fact, according to a 2010 article in The Wall Street Journal, over three years, more than 60 million McRib sandwiches were sold despite their “limited” availability.
The Memes and Charts
While the connection between the McRib, bitcoin, and stocks may seem far-fetched, that hasn’t stopped crypto enthusiasts from creating memes and discussing this topic. In 2022, Nick Maggiulli, COO for Ritholtz Wealth Management, shared that the S&P 500 experienced a slightly higher average daily return when the McRib was on the menu. Similarly, crypto analyst Zack Voell posted a chart showing bitcoin’s reaction to the McRib news.
It’s worth noting that McDonald’s historically releases the McRib in the last quarter of the year, and while November and December are not typically favorable months for bitcoin in terms of price, October, known as Uptober in the industry, has seen positive market trends. Additionally, bitcoin has experienced significant price surges in 2017 and 2021.
Examining bitcoin’s price over the past decade during the months of McRib comebacks, it appears that the rise in BTC price occasionally coincides with the availability of the McRib. However, it is unlikely that the McRib directly influences bitcoin’s price performance. One thing, though, remains certain – bitcoin continues to rise in value.
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