Wait, Is Walmart Really Accepting Cryptocurrency Now?

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Wait, Is Walmart Really Accepting Cryptocurrency Now?

No, Walmart isn’t accepting cryptocurrency. It’s incredible how much of a difference a hoax can make. A fabrication about Walmart accepting Litecoin caused the currency’s price to jump by a whopping 20% despite no reliable verification that it was happening.

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A fake press release started making the rounds claiming that Walmart would begin accepting the currency as a form of payment. Several publications reported the press release as fact, and it was even posted (and deleted) by the official Litecoin Twitter account.

Because the coin would suddenly be far more useful if a major retailer like Walmart accepted it, the price jumped by an impressive 20%. Unfortunately, the rumor was quickly debunked, leaving many people owning Litecoi at its previous value, as the price fell quickly once word made the round that it wasn’t legitimate.

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