Follow the influencers: 5 crypto entrepreneurs and celebrities and their favorite coins
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According to CNBC research, more than 19,000 cryptocurrencies exist, but not all of them are worth investing in. Investing in any cryptocurrency, even the most reliable, is risky because an investor risks losing everything at once if the rate collapses.
It can be a good sign if a famous person is behind a particular coin, whether an entrepreneur, industry leader or celebrity. They can influence the value of a currency and often have insider information about which crypto will be at the top soon.
Of course, you should not fully trust their vision and estimate, but it will not be superfluous when you do your own research. So, here’s a list of five famous people and their favorite coins.
In January, Gwyneth Paltrow, Oscar-winning actress and Goop founder, offered her 2.7 million Twitter followers a $500,000 Bitcoin giveaway. The announcement followed her recent participation in a $200 million round of financing for TeraWulf, a cryptocurrency mining company that aims to mine bitcoin using 100% carbon-free energy.
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Gene Simmons, a bassist and frontman of the famous rock band Kiss, was one of the most ardent fans of Project Cardano (ADA). The musician took to Twitter to explain his reason for supporting and buying ADA tokens, which was that at the time, they were priced below the dollar, making them accessible to everyone.
CryptoTwitter condemned his logic. Nevertheless, Simmons reportedly bought the ADA for $300,000.
Simmons also declares himself the “God of Dogecoin,” boasting of buying a meme currency for “a six-figure sum.”
Mason Versluis, aka Crypto Mason, a TikTok author, goes live almost daily discussing crypto news and explaining various altcoins to his followers. One of his favorite coins is XRP. He bought the crypto in 2017, and it has since become one of his top three favorite holdings.
According to him, this is primarily due to XRP’s ability to facilitate cross-border payments easily and quickly. His view of the coin is also supported by the fact that it is praised by the 43rd Treasurer of the U.S., Rosa Gumataotao.
Female influencer from YouTube. She uses her platform to inform more than 150k subscribers on altcoin news and Bitcoin’s price action. But her favorite cryptocurrency is Solana. As she said, it is mostly because it’s a direct competitor to Ethereum. And it solves one of Ethereum’s biggest problems — crazy high transaction fees.
“I’ve personally encountered commissions of up to $500 for exchanging, sending, mining, or sending NFTs,” she said.
Entrepreneur and investor Mark Cuban fully embraced digital assets and supports Ethereum, which he believes will surpass BTC in the future. He thinks it will be after Ethereum migrates to the Proof-of-Stake network that ETH 2.0 “will open a new landscape for the entire cryptocurrency market by supporting smart contracts and blockchain extensions at scale.”
And what is your favorite cryptocurrency, guys? Write it in the comments below.
Подводка: Their actions affect the market and make cryptocurrency more expensive or cheaper. Do you think their efforts are worth watching? We do!
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