Oscar Mayer 'Bacoin'

Yahoo Finance Video

Updated April 30, 2018 at 4:53 PM

What do you get when you combine bacon and crytocurrency? Bacoin! In a real live press release Oscar Mayer says it's 'the first ever crytocurrency backed by the gold standard of Oscar Mayer bacon'. 'Bacoin' is apparently just a gag but the actual business news behind this joke is that the merger between Oscar Mayer, which is a division of Kraft Heinz resulted from a 2015 merger orchestrated by Warren Buffett's Berkshire Hathaway and Brazilian investment firm 3G Capital. And Buffett is not a fan of bitcoin.

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