Walmart says crypto payments announcement is fake. Litecoin tumbles after spike

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Litecoin
Chris Ratcliffe | Bloomberg | Getty Images

Walmart, the biggest retailer in the U.S., will accept cryptocurrency for payments from shoppers, the company announced in a press release on Monday.

The payments option will utilize litecoin, which jumped more than 20% Monday in reaction to the news.

Litecoin is one of the oldest of the cryptocurrencies, often thought of as a digital silver to bitcoin’s digital gold. Like bitcoin, it’s decentralized and uses the same code, but is faster and cheaper.

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