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.
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 Centaccepted bitcoin purchasesof his 2014 albumAnimal 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 was a celebrity endorsing cryptocurrency before it became a fad. He invested in bitcoindigital wallet Coinbasein early 2014. Months later in aAugust 2014 interview, Nas proclaimed that bitcoin had the potential to be “as big, if not bigger, than the Internet.” A few months later, theIllmaticrapper informed hismillions of fans on Facebookthat he would be rewarding bitcoins to those with the highest scores on his Nas trivia contest atThe Rap Testwebsite. 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 makecommercial space flightsa reality, rarely does anything less than epic. His love of cryptocurrency is no different. He invested $30 million intobitcoin startup Bitpayin 2014. Before that, he announced he wouldaccept bitcoinsas a form of payment for tickets on his upcoming commercial space travel service Virgin Galactic, in late 2013. Branson receivedsix bitcoin purchasesfor tickets only a few months after that announcement. Later in 2014, the multi-billionaire voiced his immense satisfaction inBitcoin’s futurein a September 2014 interview. His cryptocurrency support hasn’t wavered over the years, with Branson investing inbitcoin service provider Blockchainlast year.
Ashton Kutcher
TheThat 70s Showstar has had a complicated, but profitable relationship with technology over the last decade. He portrayedSteve Jobsin a film, and was an early investor inAirbnband 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 aboutEthereum 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 latestBitcoinnews.
Katy Perry
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 forblockchain prediction platform Stox.com. A month later in August 2017, the undefeated pugilist promoted the ICO for a blockchain-based content marketplace known asHubii Network. Then, in September 2017, Mayweather signed on to being the brand ambassador forcryptocurrency platform Centra. Mayweather’s endorsement is as good as his right jab, with Centra raising more than$30 millionweeks after Mayweather’s endorsement. No wonder the revered boxer has referred to himself as “Crypto Mayweather.”
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 avideo on his Instagrampage 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 withBitcoin Directto 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 owndigital Bitcoin walletwhere people can buy and exchange cryptocurrency directly form the app.
Jamie Foxx
Jamie Foxx has given a few technology endorsements over the years, including abackpack 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. Foxxpromoted his participationin the ICO of cryptocurrency exchange platform Cobinhood to his more than four million followers on Twitter in September 2017. Cobinhood raised nearly$10 millionmere weeks after Foxx’s endorsement. Not bad for a few minutes of typing a tweet.
