In recent years, celebrities have been increasingly lending their public support to a variety of causes and products – and the world of cryptocurrency is no different. As reported by numerous news and media outlets like NYTimes and Bloomberg, a number of high-profile names have spoken out in favor of digital currencies, with some even going so far as to invest in specific projects.
From high profile celebrities like Matt Damon appearing in television commercials and pushing crypto trading platforms, to Reese Witherspoon getting involved in the world of NFT — there seems to be an endless supply of money being tossed around by different crypto projects in an effect to get more exposure through already infamous celebrities and social media influencers.
However, with crypto on the decline over the past several months, we’ve all seen a lot less of this… and little-to-no mention from the celebrities on their actual earnings and support for such projects.
Celebrities Involved in the World of Cryptocurrency
Though there are plenty more than listed below, here are just a few of the celebrities that have backed cryptocurrency projects through personal investment, endorsements or through association.
1. Ashton Kutcher
Actor and venture capitalist Ashton Kutcher is one of the most well-known names in Hollywood to have thrown his weight behind digital currency. In 2014, he invested in BitPay, a Bitcoin payment processor, and has since been an outspoken advocate for the technology. He has even compared investing in Bitcoin to investing early in the internet.
2. Gwyneth Paltrow
Hollywood actress Gwyneth Paltrow is another big name to have gotten involved in cryptocurrency. In 2017, she joined Bitcoin startup Abra as an advisor, helping the company to develop its mobile app. She has also been quoted as saying that she believes Bitcoin is “a revolutionary technology.”
3. Snoop Dogg
Snoop Dogg, one of the world’s best-known rappers, has also lent his support to cryptocurrency. In 2018, he partnered with Canadian firm Tangem to produce a physical Bitcoin wallet, which allows users to store and spend their digital currency offline. He has also invested in blockchain-based startups such as CasaHODL.
4. Paris Hilton
Socialite and heiress Paris Hilton is another celebrity to have jumped on the cryptocurrency bandwagon. In 2017, she tweeted her support for ICO firm LydianCoin, before going on to promote a number of other digital currency projects. She has even hinted that she may be interested in launching her own cryptocurrency at some point in the future.
5. Matt Damon
As the famous Crypto.com commercial says, “Fortune Favours the Brave”, but lately there is a lot of criticism towards Matt Damon’s commercial these days. Some say that he is trying to sell a “get rich quick” scheme, while others claim that the commercial is simply humorous.
6. Richard Sherman
NFL star Richard Sherman is an investor and spokesperson for the digital currency start-up Dash. He’s been a vocal advocate for cryptocurrency and has even helped promote Dash-sponsored events, like a free football camp for kids.
7. Lupe Fiasco
Grammy-winning rapper Lupe Fiasco is an advisor to the social media platform Steemit, which runs on its own cryptocurrency, STEEM. He’s also a fan of Bitcoin and has been known to accept the digital currency as payment for concert tickets.
Senegalese-American singer Akon is launching his own cryptocurrency, called “Akoin.” The Akoin token will be used to power Akon City, a futuristic, smart city that he’s building in Senegal.
9. Floyd Mayweather
Professional boxer Floyd Mayweather is one of the most high-profile celebrities to get involved with cryptocurrency. He’s promoted a number of digital currency ventures on social media, including the initial coin offerings (ICOs) for Centra and Stox.
10. Lionel Messi
In September 2017, soccer superstar Lionel Messi partnered with Sirin Labs to promote their new blockchain phone, which is set to launch in 2018. The phone will run on a new cryptocurrency called “Sirin,” and will be available for purchase with Bitcoin and Ethereum.
11. Jamie Foxx
Oscar-winning actor Jamie Foxx is yet another star to have gotten involved in cryptocurrency. In 2017, he took to Twitter to promote the ICO of Ethereum-based project Cobinhood, calling it a “game changer.” He has also spoken about his interest in Bitcoin, calling it “badass.”
12. Kim Kardashian
Kim Kardashian, who has nearly 60 million followers on Twitter, has been a vocal supporter of Bitcoin since she first invested in the cryptocurrency in 2013. In 2018, she tweeted about how she had “found the perfect way to spend my birthday money.”
13. Jared Leto
Actor and musician Jared Leto is an investor in Blockchain Capital, a venture capital firm that specializes in blockchain and cryptocurrency investments. He’s also an advisor to the popular Ethereum wallet service MetaMask.
The Future of Celebrities and Crypto Projects
These are just a few of the celebrities that have backed cryptocurrency in recent years. With such high-profile names lending their support to digital currency, it’s likely that we’ll see even more stars getting involved in the space in the future — should the price of Bitcoin and the overall crypto and NFT markets return, this will likely happen earlier than later.
While not all celebrities have been as forthcoming about their involvement in cryptocurrency, there are a number of other well-known names that have been linked to the industry.
The involvement of celebrities in cryptocurrency is often seen as a positive by industry insiders, as it helps to bring attention to the sector. However, as we have recently seen over the past several months, some have warned that celebrities could be inadvertently promoting scams by endorsing dubious projects.
Where to Learn More About Crypto Currency
When it comes to any type of financial investing, it’s always best to not take the advise of recommendation of a high-profile celebrity or social media influencer — especially when they are just pushing a product or service simply because they are getting paid.
Instead, take the necessary time and effort to do your own due diligence, while also familiarizing yourself with the industry. To help in this process, we recommend visiting our list of blockchain, dogecoin, binance and personal finance blogs.
To more you know about the industry and different ways to invest, the more prepared you will be for different spikes, drops and regulation changes over time.