Cryptocurrency platform VeChain stunned investors after announcing a three-way partnership with tech giants Facebook, Amazon and Google.
The price of the VeChain token immediately dropped 12-percent in the wake of the news.
Sunny Lu, VeChain CEO, said the price drop was not altogether unexpected.
“You know what they say — buy the rumor, sell the news,” he said. “I think at this point investors fully expect us to announce partnerships with most Fortune 100 firms by the end of 2018.”
Lu said VeChain is currently in talks with AliBaba, Tesla and IBM, and that new partnerships will likely be announced next week.
“We’re going to keep the Coca-Cola Kid busy,” Lu said, referring to VeChain’s semi-official Twitter guerrilla marketer. “I fully intend to have the cryptic little bastard develop carpal-tunnel syndrome by late March.”
Lu said if all goes well, VeChain will announce a total of 5,700 high-level partnerships this year — a testament to the project’s innovative technological approach and real world utility.
“We couldn’t be more excited,” he said. “And we fully expect our token to have negative value when it’s all finished.”