By Lucas Williams
All cryptocurrencies go through a phase. At one point they are very popular and they offer some of the best benefits that you can find in any asset around. However, at some points, the token starts to fall down, and there is no telling if it will ever make it back up again.
While these phases are what turn most newer crypto investors away, it is also what most of the older investors enjoy. This high volatility, while making for increased risk, also means that there are chances for the market can rise again. Given that so many people are moving to the crypto market thanks to its success, many businesses are also making plans to get there as well. As of now, it seems that everyone wants a slice of the crypto pie. So when one of the biggest grocery chains in the US decides to throw their hat in the ring, you know that the market is worth looking into.
A few days ago, word started to spread around that Kroger, a massive grocery chain in the US, will be accepting cryptocurrencies soon. More specifically, the reports said that Bitcoin cash would soon become a viable form of payment in later days at the market. Of course, this was cause for excitement in the crypto community, as this was another major win for the crypto market.
However, unfortunately, it turns out that these reports were just rumors. The fake news had made its rounds throughout the internet, as the prices for Bitcoin cash rose for those few days. More importantly, even the investment group of the grocery chain itself picked up the story and showed massive support for it. The news was spreading like wildfire, and the company could not control it.
Eventually, they were able to control the news of them accepting cryptocurrencies, and quickly changed the narrative. It turns out that this is one of the many efforts that scammers are employing to increase the market value of certain cryptocurrencies. And in the case of Kroger, that crypto happened to be Bitcoin Cash.
However, looking at the incredible support that they received throughout this false campaign is sure to turn some heads. The group of official investors in the company was very much in favor of cryptocurrencies and wanted to see it implemented. So even though they have yet to allow cryptocurrencies as a mode of payment, they might do that at a later date. Because if their use of cryptocurrency can bring in more customers, then they have nothing to lose and only more to gain in terms of revenue. They can even win the approval of the crypto community, which very passionately takes care of companies.