CRASH ALERT! A 16lb Thanksgiving Turkey dips 78% against Bitcoin in just two years

Key Takeaways:

• While turkey price has grown in USD, it has significantly fallen in Bitcoin, says an online statistics platform.
• The NFT sector is buzzing this holiday season with new themed collections.

Thanksgiving is that time of the year, when people stuff their faces with are thankful for the delicious meals they are lucky to enjoy and count their blessings. But Bitcoiners might have something extra to appreciate, as inflation in the fiat market meant a 78% cheaper turkey in Bitcoin than two years ago.

A statistics platform with the Twitter handle ‘Priced in Bitcoin’ conveyed in a special Holiday tweet that while 16-pound turkey prices in USD climbed from $16 in 2019 to $22 in 2021, the price in Bitcoin declined 78%, to approximately 30,000 SATS.

Not that many people would consider spending their precious BTC on a bird and some stuffing (we all remember the Bitcoin Pizza day). However, discussing the Bitcoin turkey ‘privilege’ at the dinner table might result in an extensive family debate on “What crypto should I buy?”. Proceed with caution.

Also read: Bitcoin week ahead Ep18: Hawkish Fed policy expectations keep BTC under pressure.

Meanwhile, Bitcoin might not be the only topic on the table. Thanksgiving-themed NFTs hit the market in 2021, and Macy’s is one of the players.

Crypto Thanksgiving

In hindsight, cryptocurrency adoption has grown in 2021. It is partially thanks to large corporations and institutional investors introducing Bitcoin and other digital assets to their balance sheets. However, in Q3 2021, the NFT (non-fungible token) industry has surpassed $10 billion in sales.

Many celebrities dropped NFT collections of their own, and retail chains also jumped on the bandwagon this holiday season. For example, Macy’s announced its Parade NFTs on Nov 25. The collection contains iconic Macy’s Thanksgiving Day Parade balloon NFTs, and only 10 of them will be available for purchase, ranging from $8,000 to $29,000.

Sweet, an enterprise NFT solutions provider, built the collection on the Polygon blockchain. Tom Mizzone, Sweet’s CEO, said that the Thanksgiving NFT collection includes balloons from the 95-year history of the Macy’s Parade.

Each parade balloon has been carefully selected to represent a specific decade from the 1920s to the present, and each balloon has been captured and grafted into a series of 9,510 generative NFTs designed by the very talented NFT artist REOMETRY

said the executive.

Also read: NFT beats Crypto to become Collins Dictionary’s Word of the Year.

While people wonder whether Macy’s Thanksgiving Day Parade NFTs are worth the trouble, the chances of getting a bigger turkey thanks to Bitcoin gains are real. Enjoy the extra 78%, Bitcoin holders, and happy Thanksgiving!