Retail

Walmart Sells Milk Chocolate ‘Bitcoins’

In a sweet twist to digital currency, Walmart is offering bitcoins made of chocolate. The treat, which is manufactured by Frankford Candy, is 1.42 ounces of milk chocolate, according to reports.

“Lots of Milk Chocolate + Bitcoins = Pure happiness,” the candy company, which was founded in 1947, wrote in a tweet about the product.

The candies, which are a take on the foil-wrapped chocolates of the past, are a bit more reasonable than the price of an actual bitcoin. In December, the popular cryptocurrency reached nearly $20,000. Since then, the cryptocurrency has dramatically fallen: The price of bitcoin was $6,456.68 as of 9:19 a.m. this morning (Sept. 13), according to Coindesk.

In terms of companies seeking opportunity with cryptocurrency, the well-established chocolate company is hardly the first firm to brand product with such a theme. Long Island Iced Tea Corp, in particular, changed its name to Long Blockchain Corp. (As a result of the rebrand, the company saw its stock surge). According to Reuters, shares increased 300 percent after the company announced it is rebranding itself as Long Blockchain, and that it is focusing its business on blockchain technology.

The company said that it was in the early stages of looking at specific opportunities to grow the blockchain side of its business. It also plans to maintain its beverage business, in which it sells Long Island Iced Tea and Long Island Lemonade, noted the report.

With the 300 percent increase in its shares, Long Blockchain’s market value went from $23.8 million to $92 million as of the close of trading on December 20, 2017. Other small companies that are announcing blockchain businesses also reportedly saw their stock prices surge. This trend is reminiscent of the dotcom boom, when any company that tacked on a .com to the end of their name was sure to get a lift in their shares.

TRENDING RIGHT NOW

To Top