On April 1, 2019, the price of Bitcoin reached $ 5,000, then its highest level since November 2018.
While the price movement was likely the result of several factors, some thought it could be due to a joke article on the crypto news site Finance Magnates called "SEC Drops the Bomb: Approves Bitcoin ETFs."
Two years later, and a US Bitcoin ETF has yet to materialize, but Bitcoin is definitely in the joke, as its price is close to $ 60,000 and big-name brands are taking advantage of the growing popularity of Bitcoin ( but the operation still confused) to be commercialized.
Summary:
- The Teletubbies are real.
- But your cryptocurrency is not real.
- Tinky Winky, Laa-Laa, Dipsy, and Po only want two things: hugs and crypto.
April Fools Day and TubbyCoin
Until this year, many of the April Fools stories involving Bitcoin had been directed at people with insider knowledge of the ecosystem and its players. Last year, for example, Bitfinex, the sister exchange of stablecoin issuer Tether, announced Bitfinex Energy, a Monster-like drink. Bitfinex tweeted: "Bitcoin never sleeps, why should you?"
This year, the most widely recognized consumer-oriented brands are springing into action.
The company behind Teletubbies, the BBC children's show that haunted your dreams from 1997 to 2014, today announced TubbyCoin, calling it a "groundbreaking" new cryptocurrency that "employs cutting-edge cryptography to convey the inherent value of Big Hugs! In the way". 'BigHugs!' Tokens, with Tinky Winky, Laa-Laa, Dipsy, and Po." (Surely tokens with that name will be trading on Uniswap soon.)
Sorry to disappoint, but surprise! The cryptocurrency is a joke by April Fools, part of a social media campaign to raise money for charities.
Michael Riley, Brand Director of WildBrain Labs, owner of Teletubbies, wrote in a press release: "Although TubbyCoin is not really a cryptocurrency, we hope you still enjoy sharing TubbyCoins with friends, family and anyone who needs a hug." WildBrain says it will donate $ $1 for each #TubbyCoin shared on social networks, up to $10,000.
Not everything about Bitcoin on this April Fool's Day is a joke.
Chipotle, the fast food chain known for its guacamole and stale E. coli sprouts, revealed earlier this week that it would host a game titled "Burritos or Bitcoin" on April 1 in honor of National Burrito Day. 10,000 people will win a burrito, 50 people will collect $500 in Bitcoin and three contestants will get $25,000 in Bitcoin.
Or so the company says.
National Burrito Day is real (although, we would say, a victim of bad programming). And the legal jargon that accompanies the rules of the game seems very real. So if you want, you can go to burritossorbitcoin.com and buy yourself a burrito…or Bitcoin.