These Celebrities Have been Bitten by the Bitcoin Bug

Cryptocurrency has had a rough ride over the past 12 months or so. The price of Bitcoin and other digital currencies has plummeted, while the sudden financial collapse of one of the biggest crypto exchanges has prompted questions over the way digital currency is managed and regulated.

Nevertheless, if the past decade has taught us anything about Bitcoin it is that it is resilient and has a habit of bouncing back stronger than ever after any negative incidents. One thing is for sure, the bumps in the road over the past year have done little to dampen enthusiasm for crypto, and plenty of famous names have been bitten by the Bitcoin bug.

Gwyneth Paltrow

The Academy Award-winning actress has proved that she is also an astute woman of business. She started her Goop brand from nothing, and it is now worth around $250 million. She has also invested in a number of successful startups. Last year, she got behind a crypto mining business that aims to produce Bitcoin using zero-carbon energy, and shortly afterwards she promoted the business with a Bitcoin giveaway worth almost $500,000.

Mike Tyson

Iron Mike is no stranger to controversial and high-risk investment strategies. But he has a habit of making more good calls than bad ones. Last year, he Tweeted that he was going “all in” for Solana. Right now, anyone who followed him is laughing all the way to the bank – the altcoin has gained 100 percent in the first month of 2023 alone, and one by one, analysts are starting to take notice.

Maria Ho

The indications are that blockchain poker could be the new wave for online poker and pro player Maria Ho is right at the heart of it. The 2019 World Poker Tour champion and TV star describes herself as a crypto enthusiast and she recently signed on as a brand ambassador for StormX, a crypto earning app and browser extension. There are obvious synergies between poker and Bitcoin, and a growing number of online poker platforms are exploring crypto transactions. Maria could be in exactly the right place at the right time.

Investments can go down as well as up

We’ve all seen the above caveat related to any investment idea, and it is extra important to remember when it comes to crypto. Gwyneth, Mike and Maria have made some shrewd choices, but other celebrities have been less fortunate.

Floyd “Money” Mayweather, for example, went large and loud on social media a couple of years ago, inviting followers to “just call him Mr Crypto.” Weeks later, the boxing legend was on the wrong end of a lawsuit that alleged he used his fame and wealth to pump a minor altcoin as part of a larger scam.

Tom Brady, meanwhile, provided more evidence that his timing and decision-making skills are not as shrewd off the field as on it when he proudly promoted the FTX exchange on his Twitter account. That man just doesn’t know when to quit.

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