Walmart denies it will accept payment with Litecoin and cryptocurrency turns to fall after shooting 30%

SAO PAULO – After they started shooting for a brief moment, cryptocurrencies such as Bitcoin (BTC) and Litecoin (LTC) fell again in a few minutes this Monday (13th) amid rumors that the retailer Walmart had closed a deal with the Litecoin Foundation to accept currency as a means of payment in their stores.

During the morning, the GlobeNewswire website released a press release in which the CEO of Walmart, Doug McMillon, informed that as of October 1, the chain would accept Litecoin payment in all its stores.

The news sent the price of the cryptocurrency skyrocketing more than 30% quickly, going from a price of $175.51 to $231.11 in just 20 minutes. Bitcoin followed the move, also jumping about $2,000 in value.

However, as soon as the market perked up with the news, a Walmart spokesperson went public to deny the news, causing the virtual currencies to reverse all the appreciation.

He also said the company contacted the news website to investigate how the fake press release was published.

On the fake note, there were even quotes from McMillon saying that “by integrating Litecoin, we will allow consumers to have a very smooth payment experience, with near-instant transaction confirmation and near zero fees, no matter where they are.”

The account verified on Litecoin’s social networks even shared the news, but deleted the message as soon as Walmart denied the fact.

As a result, at around 11:50 am (Brasilia time), cryptocurrencies returned to register losses in the accumulated 24 hours. Litecoin retreated 2.12%, quoted at US$179.54, while Bitcoin was down 4%, to US$44,083.

It is worth noting that about a month ago the retail giant announced a vacancy for the development team focused on digital currencies. In the job description, the company says the new employee will assist in the “ambitious creation” of the company’s encryption development.

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