The billionaire’s joke about MUFC bolstered the value of a fake Manchester United token.
Moments after Elon Musk jokingly tweeted that he would buy Manchester United, a fake token that claimed to be linked to the football club surged tremendously.
Per blockchain data, the hoax Manchester United Football Club (MUFC) token rallied 3,000% shortly after Musk, the world’s richest man, made the tweet.
“Also, I’m buying Manchester United. You’re welcome,” Musk, who founded popular electric car company Tesla, said in a tweet.
However, the rally was short-lived as Musk cleared the air that he was only joking after he was asked to state his seriousness. “No, this is a long-running joke on Twitter. I’m not buying any sports team,” he said.
Fake MUFC Token Soars
Meanwhile, his previous comments have already done a lot of good to the value of the fake MUFC token. According to data on Binance-based decentralized exchange PooCoin, MUFC rose to a high of $0.01889 today after Musk joked about MUFC.
Unfortunately, the price of the token has fallen below $0.0001782 at press time after it became clear that the world’s richest man’s tweet was a prank.
The hoax MUFC token was launched in August 2021 by a group of supporters of the top English Premier League club.
The cryptocurrency gained prominence after the team behind its development airdropped 10 million units of the token to MUFC supporters.
Beneficiaries were asked to complete different tasks on social media platforms, including following the hoax project’s Twitter account and liking specific posts.
These activities contributed to bolstering the value of the token to a high of $1 at the time. The MUFC has since become a shadow of itself after its November rally until Musk’s tweet gave it a breath of fresh life.
Other MUFC Linked Assets Soar
Aside from the fake MUFC token, other financial instruments associated with the football club surged following Musk’s tweet.
Manchester United’s stock increased by 1.97% earlier today, while the market capitalization of Tezos (XTZ), the club’s official blockchain partner, increased by $138 million.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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