Crypto Goes Hollywood, And Receives A Warm Welcome
Crypto has finally made its way into Hollywood. The stars are announcing their investments in crypto, which is bringing more mainstream visibility to the industry.
Actress Reese Witherspoon recently tweeted her entrance into the crypto world. The two-time Oscar and eight-time Golden Globes award winner revealed that she had made her first-ever crypto purchase: Ethereum.
Witherspoon’s revelation opened the floodgates, as replies ranged from people congratulating her on this journey to people downright shilling their coins to her. The actress follower count also saw an uptick after the tweet went live.
Witherspoon has likely since then been pitched almost every crypto token worth mentioning in the market. Logan Paul offered to show the actress around the NFT world. Paul had replied to Witherspoon asking for her ETH address so he could gift her first NFT project, World of Women.
welcome to the club Reese ?? DM me your Eth address, I’d love to gift you this @WorldOfWomenNFT because y’all could be related. And it’d be badass for your first NFT project pic.twitter.com/epA0EZQdXG
Witherspoon is not the only celebrity invested in crypto. 50 Cent, Paris Hilton, Gwyneth Paltrow, Bill Gates, Serena Williams, Floyd Mayweather, Kanye West, and Mike Tyson are known to have holding crypto. Some have invested their money, but also for many it has come about been paid in crypto.
Rap star Busta Rhymes showed interest in the market back in July. He asked his followers on Twitter how they felt about crypto, which caught the attention of notable names in the community such as Elon Musk and Michael Saylor.
Later on in August, the rapper had tweeted confirming that he had indeed gotten into crypto after doing his research and now holds bitcoin.
Also want to thank @elonmusk@jack@CathieDWood for the live videos event they did on #Bitcoin. Bought in that day and so grateful that I did. ???
Some argue that crypto does not need big names to soar. However, the world which we live in today is completely governed by having information at our fingertips and with so much information coming at us at the same time, people will tune out most things. For some reason, the masses then to listen to famous people.
“Crypto going mainstream will be a faster process once people start seeing their favorites getting in on it, which in turn says to their fans that the market is something they should get into,” Best Owie argues.
Within 24 hours from Witherspoon’s tweet, the price of Ethereum test the $4,000 resistance point. Although the asset took a beat down at this point, it has posted an upward recovering which now puts the asset in the $3,900 trading range, at the time of writing.
