Litecoin is one of many cryptocurrencies available to buy and trade, and its price jumped 20 percent when a fake press release linked it to Walmart. The press release was posted to GlobeNewswire on Monday and has since been taken down.
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The press release claimed that Walmart would be accepting Litecoin as a form of payment which is why its price jumped. There has been a push for cryptocurrency to be generally accepted, but we’re not there yet. Some businesses and even some countries have recognized cryptocurrency, but it still faces an uphill battle to be accepted mainstream.
The Litecoin press release made it to some news outlets who reported it, not knowing it was a fake press release. There is no word on who is responsible for the fake release, but officials are investigating. Walmart has confirmed that this release was not true, and it was indeed fake.
Fake press releases aside, it will be interesting to see where cryptocurrency goes in the future and if it has a future in mainstream use. For now, it’s not going anywhere, and I suspect that once the money gods can find a way to make it benefit them, it will become more widely accepted.
What do you think of cryptocurrency? Do you invest in it? What do you think its future is? Would you rather rely on crypto like Litecoin, or are you a gold or money person? Please share your thoughts on any of the social media pages listed below. You can also comment on our MeWe page by joining the MeWe social network.
