Cryptocurrencies are the latest craze sweeping the world, and it’s
not just average Joes dropping their life savings for a piece of the
action. Some of the most popular people in the world have used their
money, celebrity, and immense social media followings to invest in or
endorse cryptocurrency-based businesses and services.
A lot of the celebrity support for cryptocurrencies revolves around
the Initial Coin Offerings (ICO) the cryptocurrency startups create. An
ICO is a fundraising event where a cryptocurrency sells a percentage of
that currency, in the form of tokens, to people in exchange for money to
help get the cryptocurrency off the ground. A few words of praise from
certain celebrities have helped numerous cryptocurrencies earn millions
of dollars in funding.
Actors, musicians, athletes, and entrepreneurs have all been drawn to
the allure of cryptocurrencies. These are some of the most notable
celebrity endorsements.
50 cent
No rapper has benefited from the rise in popularity of cryptocurrencies
like 50 Cent. In an effort to stay current with how his fans purchase
music, 50 Cent
accepted bitcoin purchases of his 2014 album
Animal Ambition.
He received 700 bitcoins, which were valued at $660 each, at the time,
and admits he forgot about the stash. Once each bitcoin’s value exploded
in 2017 to a record high of $19,850 in mid-December, his forgotten
stash rose in value to as high as nearly $14 million. When 50 celebrated
his new fortune in January, the value had dropped to $10,000 per
bitcoin, enough for a nearly $8 million haul.
Nas
Nas was a celebrity endorsing cryptocurrency before it became a fad. He invested in bitcoin
digital wallet Coinbase in early 2014. Months later in a
August 2014 interview, Nas proclaimed that bitcoin had the potential to be “as big, if not bigger, than the Internet.” A few months later, the
Illmatic rapper informed his
millions of fans on Facebook that he would be rewarding bitcoins to those with the highest scores on his Nas trivia contest at
The Rap Test
website. At the time of the August 2014 interview, the legendary
lyricist claimed he and his team had been collecting bitcoins for over a
year, when the price of a bitcoin hovered between $100-$1,000. At the
time of press, each bitcoin is worth roughly $8,000, which would net the
multi-millionaire rapper a hefty sum of money if he kept a large enough
number of bitcoins in his stash.
Richard Branson
Richard Branson, the Virgin Group founder trying to make
commercial space flights a reality, rarely does anything less than epic. His love of cryptocurrency is no different. He invested $30 million into
bitcoin startup Bitpay in 2014. Before that, he announced he would
accept bitcoins
as a form of payment for tickets on his upcoming commercial space
travel service Virgin Galactic, in late 2013. Branson received
six bitcoin purchases for tickets only a few months after that announcement. Later in 2014, the multi-billionaire voiced his immense satisfaction in
Bitcoin’s future in a September 2014 interview. His cryptocurrency support hasn’t wavered over the years, with Branson investing in
bitcoin service provider Blockchain last year.
Ashton Kutcher
The
That 70s Show star has had a complicated, but profitable relationship with technology over the last decade. He portrayed
Steve Jobs in a film, and was an early investor in
Airbnb and
Uber. One of his early hits was in cryptocurrency, and it’s starting to
pay off. Kutcher is one of the earliest celebrities to the
cryptocurrency craze,
tweeting about Ethereum
in May 2014, more than a year before its initial release in July 2015.
Ethereum is now one of the biggest cryptocurrencies in the world, with
one Ethereum valued at more than $830, at the time of press. Kutcher
also invested in Bitcoin processing service Bitbay, and regularly
updates his 19 million Twitter followers about the latest
Bitcoin news.
Katy Perry
Back in November 2017, Katy Perry shared with her more than 68 million
Instagram followers how she got some cryptocurrency advice from one of
the best people to get any financial advice from:
Warren Buffett.
It wasn’t long after her meeting with Buffett that Perry became a
cryptocurrency supporter. In January, she posted on Instagram what may
be the
prettiest advertisement for cryptocurrency
to date, embroidering her nails with the logos of five
cryptocurrencies. Tweeting about how much you love bitcoin is one thing.
Decorating your nails with the logos of five of the most popular
cryptocurrencies in the world is a different level of crypto dedication.
Floyd Mayweather
Floyd Mayweather is synonymous with two things – money, and winning.
Now, he may be one of the most active celebrity endorsers in the
cryptocurrency market. In July 2017, Mayweather endorsed the ICO for
blockchain prediction platform Stox.com. A month later in August 2017, the undefeated pugilist promoted the ICO for a blockchain-based content marketplace known as
Hubii Network. Then, in September 2017, Mayweather signed on to being the brand ambassador for
cryptocurrency platform Centra. Mayweather’s endorsement is as good as his right jab, with Centra raising more than
$30 million weeks after Mayweather’s endorsement. No wonder the revered boxer has referred to himself as “
Crypto Mayweather.”
DJ Khaled
DJ Khaled’s greatest talent is promotion. He can make any mundane
meetings feel like the Super Bowl with his boisterous personality and
grandiose descriptions of everything. Just like Mayweather, Khaled used
his social media promotional prowess to endorse the potential of
cryptocurrency platform Centra. In September 2017, Khaled bragged to his
more than 12 million followers on Twitter and Instagram about having a “
titanium centra debit card” from Centra. A month later in October 2017, he posted a
video on his Instagram page showing off the features of Centra Wallet app on his iPhone, a few weeks after the app hit the Apple Store.
Mike Tyson
Unlike most celebrities whose cryptocurrency endorsements don’t extend
beyond a few social media posts, Tyson tied Bitcoin directly to his
brand. In late 2015, Tyson partnered with
Bitcoin Direct
to release Bitcoin ATMs branded with the fighter’s ferocious image.
Months later in January 2016, Tyson and Bitcoin Direct announced the
former heavyweight champ would get his own
digital Bitcoin wallet where people can buy and exchange cryptocurrency directly from the app.
Jamie Foxx
Jamie Foxx has given a few technology endorsements over the years, including a backpack with built-in speakers, and Verizon Wireless. So, it’s not a big surprise that the 50-year old comedian has got in on the cryptocurrency craze. Foxx promoted his participation
in the ICO of cryptocurrency exchange platform Cobinhood to his more
than four million followers on Twitter in September 2017. Cobinhood
raised nearly $10 million mere weeks after Foxx’s endorsement. Not bad for a few minutes of typing a tweet.