Announcing the new release, KFC Canada tweeted:
“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.”
The Bitcoin Bucket is available online for home delivery, and comes with “10 Original Recipe Tenders, Waffle Fries, Med Side, Med Gravy and 2 Dips”. The bucket, which costs the BTC equivalent of 20 Canadian dollars, can be bought exclusively with Bitcoin, and is available for purchase in Canada only.
KFC Canada’s website reads:
“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.”
The company’s Twitter account has also been utilizing Bitcoin references in a bid to pull in the crypto crowd. “Another big rise in #Bitcoin. Hodl for the dip”, states one tweet. “If Satoshi reveals his true identity, his bucket is on us”, says another.
In addition to tweeting up a storm, KFC Canada also released a promotional video on Facebook.
The Bitcoin Bucket is a limited time offer, and the promotion has proven to be popular, since the product is currently sold out. However, KFC Canada have tweeted that they are “mining for more as fast as we can”.
The increasing popularity of cryptocurrencies has led to multiple companies tapping into the crypto craze for promotional purposes. Last month, a beverage company called Long Island Iced Tea Corp. changed its name to Long Blockchain Corp., causing its stock to rise nearly 200% in value. More recently, Kodak announced that it will be hosting an ICO for a cryptocurrency called “KodakOne” aimed at photographers, which led to its stock nearly tripling in value.
While much of the “currency vs. commodity” debate surrounding Bitcoin stems from the fact that the cryptocurrency is rarely, if ever, used to purchase goods and services, the fact remains that Bitcoin can be difficult to spend. Its high transaction fees and slow transaction processing speeds act as major deterrents, which have caused companies such as Steam to drop it as a method of payment.
In addition, while some companies do accept payment in Bitcoin – Overstock and Starbucks, to name a few – most Bitcoin holders are likely to refrain from spending their coins, given that the cryptocurrency surged past the $20,000 mark last month, and is currently trading at around $13,900 (at press time).