Kroger is one of the most well-known grocery chains in the United States and is the largest grocery chain by revenue. Kroger is also considered the second-largest retailer right behind Walmart. So when a press release comes across the screens of business journos that says Kroger will be accepting bitcoin, well, that’s something.
While some media ran with the story, getting the hopes up of many a bitcoin investor, the company has clarified that this was a fake press release that was not sent from them. So you’ll have to wait for another time to buy your Froot Loops with bitcoin.
The fake Kroger press release said that bitcoin would start being accepted this coming holiday season, and it even appeared on Kroger’s investor relations page but was quickly deleted. Several PR newsfeed websites also posted the release, which, of course, excited many media outlets.
“This communication was fraudulent and is unfounded and should be disregarded,” a company spokesperson said in an emailed statement, adding that Kroger was in touch with PRN on the issue.
PRN pulled the fake announcement and said it was “urgently investigating the incident including looking into any criminal activity associated with this matter”.
Walmart fell victim to this same hoax not too long ago, and that sent the price of Litecoin up until it was discovered it was fake. That seems to be the intent of these phony press releases. The hoaxers are hoping to drive the cryptocurrency price up to make a quick dollar for themselves. In this case, bitcoin prices dropped a bit soon after it was announced that the press release was phony.