How Does Celebrity Endorsement Benefit the Course of Bitcoin

Bitcion
Bitcion

Since its inception in the year of 2009, Bitcoin has been prominently making headlines in the market. Due to this reason, aside from the world of technology, it had also intrigued the celebrities to some extent. For example, after the launch of BTC in 2009, Elon Musk perceived its significance and offered his verdict in the social media promptly. Besides him, Childish Gambino, the famous USA-based rapper, too, had supported the emergence of cryptocurrency and endorsed the same passively.  

In addition, the “Iron Man” actress, Gwyneth Paltrow, too, offered her unswerving support to Abra, a cryptocurrency wallet and exchange module. But, how does it affect the world of Bitcoin as a whole? Is it, indeed, beneficial for the newer investors or, can it make the cryptocurrency market on platforms like Bitcoin mastery even more volatile and impulsive? If you want the answers to your questions, then make sure to keep reading the write-up.  

Celebrities Who Have Endorsed Cryptocurrency. 

Among the celebrities throughout the world, Elon Musk has always been quite vocal about the potential and beneficial attributes of Bitcoin. However, since the emergence in the value of BTC in the year of 2017 has attracted more people towards it. And, amongst them, the number of screen idols has gotten attracted to the same. Let’s learn more about them. 

  • Ashton Kutcher: If you are an Ashton Kutcher aficionado, then you probably do already know about his love for innovative technology. Thus, it should not come as a surprise to you that he has been endorsing cryptocurrency as well. For example, he is the co-founder of A-Grade Investments (a venture fund), which has invested in a payment module called BitPay. According to him, he has always been a huge admirer of decentralized technology. Thus, he wanted to learn more about the same by investing his time and capital in Bitcoin.  
  • Nas: The popular song-writer cum rapper, Nas, and his manager, both have been indulged in the cosmos of Bitcoin for quite some time. According to a report, since the inception of his career, he has invested in more than 40 different start-up organizations. And, Coinbase is one of the prominent names amongst them. However, we are still unaware of the amount of BTC Nas currently owns for his own good.  
  • Mel B: Previously, the USA-based rap artist Snoop Dogg had begun the trend of selling his music albums with Bitcoin. He did so in the year of 2013, almost eight years from today. Since then, many other male music artists tried to follow the same path like him. However, Mel B was the first female musical artist who partnered with CloudHashing to allow people buy her album with BTC. According to her, she loved the idea of uniting her fans through a single currency. Hence, she took such a revolutionary step.  
  • Drew Carey: The American comedian cum actor, Drew Carey, too, seems to be quite indulged in the world of Bitcoin. He has been gently encouraging people through his Twitter posts to use BTC for trading and buying stuff. Apparently, he also owns a small amount of cryptocurrency himself. However, he has never revealed anything in this aspect, not even jokingly.  
  • Richard Sherman: Richard Sherman, the cornerback of Seattle Seahawks, has also entered in the world of BTC recently. According to one of his older Facebook post, his store will accept Bitcoins in the near future for trading purposes. Furthermore, he has also considered the same to be the “currency of the upcoming future of mankind”. As per the interview of his agent, the superstar is trying to get into the latest form of transaction while ignoring the age-old potential of traditional credit cards.  
  • Snoop Dogg: As mentioned before, Snoop Dogg has announced that his latest album will be available for the BTC buyers as well. However, he has not made any official comment about the reasoning for the same. So, we are unaware of the fact if he does own Bitcoin or not. But, he is definitely making a progress into it.  

Celebrity Endorsement and Bitcoin 

The value of BTC has been rising almost on a regular basis. According to various tech-based reports, the price of the same will amplify even more in the near future, especially due to sudden increase in investing. So, does the endorsement from the celebrities affect the Bitcoin-based environment at all? Let’s learn more about the same!  

  • Value Increasing: The celebrity endorsement or support for any form of cryptocurrency can increase its overall value to some extent. For example, Tesla, the brainchild of Elon Musk, has recently announced that it will invest a hefty sum of money in BTC, And, soon after the announcement, the price of BTC began rising quickly. So, in essence, if you were considering investing in the world of BTC, then the month of February would be perfect for you.  
  • Widespread Recognition: Bitcoin is considered to be the first ever cryptocurrency to be launched in the whole world. Therefore, its popularity base has become quite massive as of now. Nonetheless, there are still several countries available in the world, which do not have any idea about it. Hence, the endorsement or support from the celebrities can help them to get the news about the same. This, sequentially, can prompt the universe of BTC to gain more investors and grow even more exponentially.  
  • Reliability: Due to the volatility of the market, there are many people out there who consider BTC to be unreliable and undependable. However, that’s wrong. And, the endorsement from the celebrities can be a cure to this ill-thought procedure as well. It can offer a sense of trust to the non-believers and prompt them to invest before judging the cryptocurrency market. 

Conclusion: 

The world of cryptocurrency is growing continually without any restriction. Hence, if you want to invest in this aspect and build up your portfolio, then it would be the perfect time for you to do so. Nonetheless, you should still be wary about the risks of the same and make a proper strategy regarding the same. Good luck!  

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