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Cryptocurrencies are taking over the world and it was just a matter of time before large companies got involved with it. In fact, Bosh made headlines last year when it decided to invest a large sum of money in cryptocurrencies. However, now it seems like the worldwide famous car manufacturer BMW is looking to get involved with cryptocurrencies as well.
BMW Partners with VeChain
Even though the details are scarce at the moment, we do know that BMW has chosen VeChain to be its partner. This is a massive partnership and it will surely affect VeChain’s value. Not only that, but VeChain has chosen to rebrand its name to VeChain Thor. The partnership was announced by none other than Sunny Lu who is the CEO of VeChain.
What’s interesting is that BMW’s partnership with VeChain Thor was rumored for a long time, but neither BMW nor VeChain Thor wanted to confirm anything. This led people to believe that it was only a rumor. Fortunately for VeChain investors, the rumor was proven to be true. But what does this mean for VeChain Thor’s price?
The Rebranding Effect
In case you didn’t know, Raiblocks recently rebranded to NANO because the original name was hard to pronounce. Days after Raiblocks was rebranded to NANO, the token price skyrocketed. Speculations are saying that this is surely what’s going to happen to the newly rebranded VeChain Thor as well.
Moreover, VeChain Thor is valued at $5.51 at the moment and the total market capitalization sits at $2,622,703,416.
You can buy/sell VeChain on Binance.
— boxmining (@boxmining) February 26, 2018