It was once the case that cryptocurrencies were all about tech nerds and financial insiders. They were something that no one else really understood and so they were steered clear of. However, the last few years have seen a real shift. Bitcoin has caught the attention of investors from around the world and from all walks of life. While everyday people are getting involved, there has also been plenty of activity from celebs. These celebs have recognised the store value of holding Bitcoin and even see it as a cultural movement.
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As you read on, we’ll be looking at how Bitcoin is being used and what’s making it so attractive. We’ll then be revealing the names of the celebs involved and why they jumped on board.
The Many Uses of Bitcoin
At first, it was hard for the everyday person to see the point of Bitcoin. That has certainly changed now and this decentralised currency now resonates with a host of industries. Here’s a look at some of the most popular uses of Bitcoin today:
- Store of value: Bitcoin has long been referred to as ‘digital gold’. It is often used as a hedge against an increase in inflation and economic instability. The fact that it’s decentralised, and has a finite supply, makes it a highly attractive asset.
- Online gaming: The gaming industry has adopted blockchain technology and cryptocurrencies to offer an improved user experience. Now, Bitcoin casino platforms are allowing increased security and transparency.
- Cross-border transactions: With Bitcoin, there’s no need for any intermediaries and that means it is ideal for fast international payments that come with low fees.
- Philanthropy and fundraising: Activists and nonprofit organisations have started to use Bitcoin so that donations can be made without excessive fees.
- Retail and e-commerce: There are now many merchants that will accept Bitcoin as payment. Right now, you can buy anything from a cup of coffee to luxury goods.
These uses show how Bitcoin is becoming a much bigger part of everyday life. With that in mind, let’s take a look at just some of the celebs that get involved.
Top Celebrity Bitcoin Holders
Celebrities are well-known for trend-setting, but when it comes to crypto, many of these have been followers rather than at the fore. Let’s take a look:
Jack Dorsey
The former CEO of Twitter has long been one of the loudest supporters of Bitcoin. He is so supportive that he now leads a company called Block that is deeply invested in Bitcoin technologies. This support has seen him becoming one of the biggest influencers and promoters of the coin, and he has gone as far as to say that it could become the single currency of the world. He has a net worth of around $5.3 billion and this means that he is someone we should all take note of when it comes to financial matters.
Paris Hilton
Hilton is known for being an adopter of digital trends and this has led to her becoming another vocal supporter of Bitcoin, as well as other cryptocurrencies in general. As well as holding Bitcoin, Hilton has a deep involvement with NFTs. You can often hear her speaking out about the potential that she feels blockchain technology holds and she sees it as being truly transformative. Her open approach has made her a key voice in all things crypto-related, especially to younger audiences. This means that she has the ability to take crypto to the next generation and this will only lead to further growth.
Elon Musk
Famous for being the maverick entrepreneur behind Tesla and SpaceX, Musk is now seen as being Donald Trump’s right hand man. He is perhaps one of the most famous supporters of Bitcoin, but he has also shown support for Dogecoin and Ethereum. His companies are known to have made investments in Bitcoin that total millions and at one point his company, Tesla, was accepting it as a form of payment. Musk has a networth of more than $400 billion, so this is someone else who is worth paying attention to when he speaks about the potential of Bitcoin.
Serena Williams
Williams is known for her legendary exploits on the tennis court, but she has shown that she is just as formidable in the world of business. She has a venture capital firm, called Serna Ventures, and through this she has invested in a range of startup companies, including those involved with cryptocurrency. Her own holdings in Bitcoin and Ethereum are clear signs that she has a true belief in the future of these digital assets. Her net worth right now is around £300 million.
Mark Cuban
Cuban is a billionaire investor and known for his role on ‘Shark Tank’. It’s fair to say that he’s a polarising figure when it comes to Bitcoin. He started off with more than a healthy dose of scepticism and it took him a good while to come around to the idea of how crypto could offer any benefits. Despite his early concerns, he has since admitted that he holds Bitcoin. He has also become a supporter of the broader crypto ecosystem including the likes of blockchain applications and decentralised finance (DeFi). Right now, his net worth stands at an impressive $5.7 billion.
Tom Brady
Along with his wife, Gisele, the NFL superstar, Brady, has long been an outspoken supporter of both Bitcoin and wider blockchain technologies. The way that the couple has endorsed crypto has brought a great deal of attention to the space. This is particularly the case within the sports community. His commitment to digital innovation can also be seen by looking at his company, Autograph. This company has a focus on NFTs and has seen some amazing results. Brady is currently worth around $300 million.
Richard Branson
Branson is the founder of the Virgin Group and is a high-profile name that’s linked to Bitcoin. He is known for having an adventurous spirit as well as an entrepreneurial mindset and he joined a $30 million funding round for BitPay all the way back in 2014. The reality is that Branson has stayed tight-lipped when it comes to his one Bitcoin holdings, but it’s clear to see that his support of the industry has been consistent. Right now, his net worth sits at $2.5 billion.
Floyd Mayweather
The boxing champion, Floyd Mayweather, has made no secret about the fact that he is hugely enthusiastic about all things crypto. On multiple occasions, he has been involved with promoting Bitcoin and Ethereum, and he even went as far as to launch his own NFT project. Mayweather’s involvement, and endorsements, have led to crypto reaching a much wider audience especially within the world of sport. His net worth is around $400 million.
Kayne West
While Kanye West may well be a divisive figure, he has had great success as both a musician and an entrepreneur. During numerous interviews, he has shown his appreciation of Bitcoin and described it as a tool for liberation. He has never gone as far as to disclose exactly how much Bitcoin he holds, but his conversations have certainly helped the currency to grow. West is said to be worth $400 million.
Gwyneth Paltrow
As an Academy Award-winning actress, Paltrow is another celeb who has fully embraced Bitcoin. Back in 207, she even went as far as to take on an advisory role with Abra, a cryptocurrency wallet. While Paltrow is more widely known for her commitments to wellness, her appetite for crypto is just as big. Her net worth is reported to be $200 million.
Celebrity Endorsements: A Sign of Bitcoin’s Growing Acceptance
The involvement of high-profile celebs in Bitcoin has had a huge impact on how this cryptocurrency is viewed around the world. They have lent their names and influence to the currency and this has helped to demystify it and make it mainstream. Their actions and support have led to millions of other people exploring just what Bitcoin is and what it could offer them.
Elon Musk has had a major impact through his platform, X, while with Serena Williams it’s more about strategic investments setting an example. These endorsements show that there is a growing acceptance of Bitcoin, which is now seen as a versatile asset.
Final Thoughts
With some many celebrity endorsements, it’s clear to see that Bitcoin has managed to move from being a niche offering to something that has entered the mainstream. The figures involved come from a range of backgrounds and they have helped to spread the message to the widest audience possible. They have reached millions of people and have encouraged them to begin their own investment journeys.
With Bitcoin continuing to gain traction, you can be sure that its use cases will continue to grow and this will bring more people on board. Whether you’re inspired by the vision of Dorsey or the cultural savvy of Hilton, it’s clear to see that Bitcoin is here to stay as it continues to attract some of the most famous names in the world.
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