Search ForexCrunch

What is the hottest substance on earth? A celebrity holding a bitcoin.

It is a truism that celebrities are just better than regular people. From looking better to having cooler friends, to being important and influential, they are the kind of cool kids of the adult world that we should blindly follow. So when celebrities are starting to tout the benefits of Bitcoin and cryptocurrencies, all regular, unimportant people are now expected to follow suit.

So, let’s take a breath to steady ourselves and find out which of the pantheon of celebrity gods is lending their precious, life giving breath and talents to recognize the value of cryptocurrencies.

Punk’d and that 70’s Show star, Ashton Kutcher, has long been associated with cutting edge technologically and biotech investing. In interviews, he has credited his background in biochemistry as the driver for his investing habits, constantly seeking out the new and interesting. With a strong track record of early investing in up and coming companies like Uber, Foursquare, Spotify and Airbnb, Ashton, believe it or not, is a financial voice well worth listening to. It is also not surprising that his investment company has a strong holding in BitPay, a Bitcoin payment system allowing merchants to accept Bitcoin. On discussing Bitcoin he said recently  “The notion that we could civically monitor each other in an anonymous way actually keeps the anonymity of the Internet, we don’t have to worry about Big Brother and that same infrastructure that built out Bitcoin could be used in the security industry for mass good.” Ashton was also recently noted to having invested in Unikoin, a sports betting blockchain platform.  

Another investor in Unikoin is Mark Cuban, the Billionaire technology entrepreneur who recently called Bitcoin “a bubble”. Though it has been reported that Cuban is not a fan of Bitcoin and cryptocurrencies, a perusal of his tweets shows that this might not be the full story. Although he has dismissed Bitcoin as a bubble, he made it clear that he believes in the value of cryptocurrencies, noting that “I’m not questioning the value. I’m questioning valuation”. This is in line with his concerns about a bubble, and he back this up with his own valuation, albeit a lot lower than current values. A technology man at heart, Cuban has tweeted his thoughts on the future of cryptocurrencies for their technology backing, saying “I think blockchain is very valuable and will be at the core of most transactions in the future. Healthcare, finance etc all will use it”. Through this prism, it seems that Cuban is positioning himself to benefit from cryptocurrencies, without actually trading it himself.

In a similar way, rapper Nas has also invested heavily in technology based startup companies, in particular, Coinbase, which provides a digital wallet for crypto currencies. His investment in 500 Startups is also seen as a move into the startup space heavily populated by cryptocurrency companies.

With so many other celebrities tweeting about Bitcoin, whilst also buying, selling and storing the cyber-currency, the world of ordinary folk must be bound to follow. And then at least half of the hottest substance on earth can be in your very own digital wallet.