Back in the good ol’ days of the 2017-2018 gold rush McAfee could move shitcoin markets by millions of dollars with a single Tweet. Unfortunately, the art of the Tweet seems to have died off alongside most of the garbage McAfee pumped through the winter. Father Thoreau has found a way to leverage his 280 characters to move markets. Have the golden days returned, or is Thoreau simply the genius of our generation?
Did you hear about the partnership between Metal and PayPal? Probably not. It doesn’t exist. Why would a multi-billion dollar company like PayPal partner with a little known cryptocurrency? When you look at it objectively, it would never happen. But for just long enough, Father Thoreau managed to create the illusion and wrangle in Twitter speculators for something truly magical.
Yesterday, August 19, Father Thoreau tweeted two images, one depicting a Tweet by the Metal Twitter account announcing a partnership with PayPal earlier this month, and another depicting a Tweet by PayPal just moments prior insinuating the same partnership. The attached comment by Thoreau implied that someone at PayPal had gotten “trigger happy”, and the PayPal Tweet was deleted after just one minute.
Instantaneously, several larger accounts within the “Crypto Twitter” community retweeted Thoreau’s message and attached their own assumptions. Within minutes, everyone had heard of the partnership out of left field, and many traders FOMO’d in, not wanting to miss the opportunity of a life-time to buy into a smallcap coin partnered with PayPal.
After several hours, Thoreau debunked the partnership in another Tweet, indicating he had made it up. Then, he deleted those Tweets along with the rest of his feed. Father Thoreau’s work was done.
In response to the Tweet, MTL shot up over 30% from daily lows, from less than US$14.5 million in market cap to roughly $19 million. With some Photoshop savvy, and a well-timed message, Thoreau generated over 4.5 million dollars. This kind of growth rivals the level of influence McAfee has on his tweets, yet Thoreau’s reach is just a minute 1,500 followers. Not only has he re-affirmed the role Twitter can play in moving markets, he proved that smaller players with a plan in place could do so, too.
Think that’s crazy? It gets even weirder. With the partnership now properly debunked, one would expect Metal to fall back to previous levels, right? Wrong. Despite dozens of Tweets rejecting the partnership as fake, MTL continues to rise. Shitcoiners really are something else.
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