KFC launches ‘Bitcoin Bucket’ and warns investors ‘cryptocurrency bubble will burst’ | City & Business | Finance

The chain’s Canada outlets will accept Bitcoins to the value of 20 Canadian Dollars (£11.78) for the meal option that includes 10 original recipe tenders, waffle fries, a medium side, gravy and two dips.

A company said: “Welcome to 2018, Canada.

“KFC Canada presents The Bitcoin Bucket. 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.

“For a limited time, orders will be fulfilled within Canadian delivery zones. We can only accept purchases within Canada. Apologies, rest of the world.”

KFC added a live video displaying the number of Bitcoins needed to pay for the meal – the video played for four hours.

The post featured a number of tongue in cheek comments.

One read: “Bitcoin on the rise since we went live. You’re welcome, Bitcoin.”

Another read: “Experts say Bitcoin is in a bubble. Put them in a bucket instead.”

A third asked: “Do you prefer your KFC Original Recipe or extra Crypt-y?”

The Bitcoin Bucket can only be purchased for delivery online for home delivery – the deal is a limited time offer.

Bitpay is used as the fast-food chain’s processor – the global Bitcoin service recently raised its minimum spend amount to $100 (£14.77) thanks to “current Bitcoin network conditions”.

Bitcoin prices hit a turbulent patch on the markets after South Korea threatened to ban the popular cryptocurrency yesterday.

The hit came after South Korean regulators threatened to curb the trade of cryptocurrencies in Korea.

Minister of Justice Park Sang-ki pledged to investigate some of South Korea’s top financial institutions to seek out those who facilitate the speculative growth of bitcoin.

Bitcoin prices responded to the news by plunging across the markets with Korean exchanges facing the heaviest losses.

According to CoinMarketCap, bitcoin prices tumbled 10 percent at 2.54am GMT from £10.768.42 ($14,579.50) to £9,680.02 ($13,105.90) at 4.54am GMT.

On Coindesk, prices fell a staggering 14 percent from their midnight high of £11,031.00 ($14,932.59) to £9,518.34 ($12,884.91) around 4.21am GMT.

In South Korea, bitcoin trades with a 30 to 42 percent premium when compared to the rest of the world. Some analysts refer to this as the “kimchi premium”.

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