No joke: KFC Canada starts accepting Bitcoin for a bucket of chicken, immediately sells out

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Financial Post | Hollie Shaw | Jan 12, 2018

Many commenters on the Facebook post appeared to regard the promotion as a joke

TORONTO — A professed failure to understand Bitcoin has not deterred KFC Canada from accepting the cryptocurrency as payment for a bucket of fried chicken.

A limited-time marketing promotion for a “Bitcoin Bucket” was launched Thursday afternoon by the quick-serve restaurant chain — so limited, in fact, that it appeared to sell out of the ten-piece chicken buckets entirely between 10 a.m. and 11 a.m. ET on Friday.

“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 company said in a posting on its Canadian Facebook page that featured a live tracker of the virtual currency’s value superimposed on a bucket of chicken.

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For a Bitcoin payment worth the equivalent of $20, a customer could order a bucket of 10 chicken tenders, with waffle fries, a side dish, gravy and two dips. The post provides a link to a digital ordering hub that allowed users to make a payment using the Bitcoin payment service provider BitPay.

Many commenters on the Facebook post appeared to regard the promotion as a joke.

“$20 bucket today, $5 bucket tomorrow, $200 bucket next week,” wrote Nathan Hudson, alluding to the cryptocurrency’s volatility.

Others noted the cost of the bucket would come out to about $40 due to a $20 transaction fee.

The promotion is also highlighted on Twitter, where KFC Canada alluded to Bitcoin’s alleged founder, Satoshi Nakamoto, a pseudonym for one or several unknown individuals who launched the virtual currency. “If Satoshi reveals his true identity, his bucket is on us,” KFC said.

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The National Crowdfunding Association of Canada (NCFA Canada) is a national non-profit actively engaged with social and investment crowdfunding, alternative finance, fintech, peer-to-peer (P2P), initial coin offerings (ICO), and online investing stakeholders across the country. NCFA Canada provides education, research, industry stewardship, networking opportunities and services to thousands of community members and works closely with industry, government, academia and eco-system partners and affiliates to create a vibrant and innovative fintech and online financing industry in Canada.  For more information, please visit: ncfacanada.org

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