Oscar Mayer, the hot dog company, is bringing home the bacon with the launch of its porcine cryptocurrency, the “Bacoin.” The Bacoin is “the first-ever cryptocurrency backed by the gold standard of Oscar Mayer Bacon,” the company boasted.
Meet Bacoin’s Architect: Keith Sizzle
“Similar to other cryptocurrencies, the value of Bacoin can be volatile,” Oscar Mayer cautioned in a press release.
“However, Bacoin stands out by the fact that bacon lovers can boost its value by spreading the news via Twitter and email on OscarMayerBacoin.com. The more they share, the greater Bacoin is worth.”
The architect of Bacoin is Keith Sizzle, who modestly refers to himself as a “digital prophet” and decorates his desk with packs of bacon.
Bacoin is redeemable for packs of Oscar Mayer bacon and even has its own price chart. Like bitcoin, Bacoin’s price changes throughout the day.
Currently, one Bacoin is equivalent to 17 strips of bacon, so it must be in a bull market. “Bacoin is poised to deliciously revolutionize the cryptocurrency market,” cooed Matt Riezman, brand manager for Oscar Mayer.
All jokes aside, the Bacoin launch is a cheeky marketing stunt.
It follows past bacon-centric ad campaigns including Sizzl, the dating app for bacon lovers, and Wake Up and Smell the Bacon, the bacon-scented alarm clock designed by Oscar Mayer.
While the Bacoin promotional gag is clearly comical, the fact that the ad pays homage to the burgeoning cryptocurrency market is a clear sign that bitcoin has arrived and is gaining mainstream traction.
Ironically, Oscar Mayer is owned by Kraft Heinz, whose principal investor is Berkshire Hathaway, the multinational conglomerate owned by billionaire Warren Buffett. Buffett is a notorious cryptocurrency skeptic who has made numerous headlines for bashing bitcoin and the virtual currency market at large.
Buffett previously called bitcoin a bubble and “a mirage” and predicted it would “come to a bad ending,” as BTCManager has previously reported.
Burger King and KFC Also Had Crypto-Centric Ads
Surprisingly, Oscar Mayer isn’t the first multi-billion-dollar global brand to have rolled out a cryptocurrency-centric ad campaign. In August 2017, Burger King in Russia unveiled a crypto-based loyalty program called the Whoppercoin.
“Now, [the Whopper] is not just a burger, but also a tool for investment,” said Ivan Shestov, communications director of Burger King Russia. “Experts predict a rapid increase in the price of cryptocurrency. Therefore, eat a Whopper today – a reserve for financial well-being tomorrow.”
In January 2018, KFC Canada unveiled a Bitcoin-themed marketing campaign where it offered a “Bitcoin Bucket” to select customers. In its ad, KFC Canada joked that it doesn’t know what bitcoin is, but that shouldn’t stop its customers from enjoying the Bitcoin Bucket.
“KFC Canada presents The Bitcoin Bucket,” the chicken franchise confessed. “Sure, we don’t know exactly what Bitcoins are, or how they work, but that shouldn’t come between you and some finger lickin’ good chicken. Despite the ups and downs of Bitcoin, the Colonel’s Original Recipe is as good as always. So, trade your Bitcoins for buckets and invest in something finger lickin’ good.”