In 2017, Bitcoin reached its new peak, the cost of transactions was extreme and the speed was slow. This led to the creation of two major forks of Bitcoin; Bitcoin Cash and Bitcoin SV.
The forks created a split in the Bitcoin community in which some felt it was time for a change and believed Bitcoin needed to increase the speed and number of transactions.
When the fork happened, anyone who owned Bitcoin received an equal amount of these forked coins, but users with coins on exchanges were not rewarded with their new forked tokens.
Bitcoin Cash was among the most popular, and it shot up in price. Being one of the few tokens listed on new exchanges gave these coins a high level of legitimacy.
Many thought it would overtake Bitcoin as the most popular chain. The controversy grew so much over the value of these new coins being held by exchanges, that major trading platforms like Coinbase were forced to pay out the new coins to its holders.
Nowadays, Bitcoin Cash is one of the few coins accepted in Bitcoin ATMs around the world, the coin has struggled with the number of nodes and adoption compared to the true Bitcoin.
Bitcoin Cash fans awoke to positive news as PRNewswire released an article stating that Kroger, a major grocery store in the US would begin to accept Bitcoin Cash in its stores.
The story was slammed as fake news but still, the article appeared on Kroger’s website.
The price of Bitcoin Cash went from $602 to $623 which is not a large increase. When the story was confirmed as fake by Kroger, with no explanation, the price dropped back to the $600 range.
This situation is similar to a recently declared partnership between Walmart and the cryptocurrency, Litecoin, one which was published and later denied.
This fake partnership, however, did not scare Walmart away from cryptocurrencies and it has recently announced it will be adding Bitcoin ATMs to its stores around the US.
So, will Kroger investigate ways to incorporate digital assets?
It worked for Walmart, so why not?