A sharp growth and collapse of LiteCoin cryptocurrencies occurred due to the fact that the PR manager believed a fake press release. About this founder LiteCoin and managing director LiteCoin Foundation Charlie Lee told in Bloomberg interview.
September 13 there was information that the world’s largest wholesale and retail network Walmart will begin to accept LiteCoin, considered the competitor of the most popular cryptocurrencies of Bitcoin. The news was first published on the site for the placement of corporate press releases Globenewswire, then she was posted on Twitter Litecoin Foundation – a Litecoin Development Fund. Charlie Lee said that the company’s account was not hacked – the public relations manager did not verify the authenticity of the information and published the message itself.
The fake news about the partnership led to a sharp rise in price of LiteCoin – the cost of cryptocurrency increased on September 13 by 40 percent to $ 240 per piece. After refuting the message after a few hours the LiteCoin rate returned to the previous indicators in 177-180 dollars. “No one from our part is responsible,” said Lee. According to trading on September 14, the cost of one LiteCoin is 179.2 dollars (fell by 0.11 percent compared with the opening of trading).
The fact that Walmart will start receiving LiteCoin, whether he learned from the Internet in the morning. He clarified that between Litecoin and Wallmart could not be partnerships, since any company may begin to take cryptocurrency without prior arrangements.