October 18th, 2021
The factor that sets Bitcoin apart, and allows it to stand far superior, to other cryptocurrencies is its massive adoption. This adoption can be seen in the form of daily inflows amongst retail traders, institutional investment, such as banks and pension funds, and embrace amongst world governments. If the adoption amongst everyone could be summed up into one word it would be appreciation, for Bitcoin. As more and more chatter about the cryptocurrency circles the globe, those most financially solvent are sure to risk, at the very least, a small piece of the pie to invest in the most sought-after, scarce asset of the 21st century. Who other than celebrities to join in the excitement? The funny thing is, some celebrities became familiar with Bitcoin, and used their appropriate capital to become investors, and some investors have become celebrities because of Bitcoin. We will start at the top to examine these figures, and the tremendous impact they are having on the Bitcoin success story.
Michael Saylor must be mentioned first as the profound impact he has had to Bitcoin, and the community, is second to only Satoshi, the creator. He is an educator, whale investor, CEO, author, and all around complete 21st century Bitcoin evangelist. Currently “HODLing” 114,042 BTC at an overall average price of $27,713 USD per Bitcoin, this whale of an investor has certainly become a celebrity amongst Bitcoin enthusiast as well as veteran traders. He has more than doubled his overall investment, originally worth around $3 billion USD, he has leveraged his company MicroStrategy, a business intelligence firm, and used 100% of its treasury reserves to invest in Bitcoin, even raising debt against the business to buy more! His Bitcoin holdings are now worth over $6 billion USD and has been regarded as one of the greatest trades of all time. He has doubled his investment in a year and has a 10-year timeline on his investment, and with his dedication to the Bitcoin network, may never sell these scarce coins.
Gaining notoriety, and wealth, from a lawsuit over Facebook, Tyler and Cameron Winklevoss have turned a roughly $65 million settlement with Mark Zuckerberg into a few Billion, in crypto holdings of course. In 2008, the twins sued Mark Zuckerberg over the original creation of the Facebook idea, then called “ConnectU”, claiming the concept of the website as well as some of the proprietary code was stolen from them while working with Mark at Harvard. The twins have gone on to establish a reputable, New York based, cryptocurrency exchange and custodian platform called Gemini, as well as a firm which invests in multiple asset classes, in hopes to fund infrastructure and crypto start up projects – called Winklevoss Capital Management. Multiple sources estimate the twins own about 70,000 BTC as of 2021, stemming back to their early adoption in 2012, earning them between 3 and 5 billion dollars over the past decade.
Twitter founder/CEO Jack Dorsey is quoted as saying “Bitcoin is the most important project” he has worked on in his lifetime. A bold statement from a big-tech CEO in the age of social media consumption. This shows just how strongly he feels about his beloved Bitcoin, in comparison to all other projects this successful entrepreneur has embarked on. He has been seen speaking at multiple crypto conventions and was hard to miss at this year’s Bitcoin Convention in Miami. Sporting a bright tye-die t-shirt Dorsey was heard explaining that he currently sees Bitcoin as a way to protect against the devaluation of currencies across the globe, as well as expedite transfers across border lines. He has quite a bit of skin in the game as well, currently holding over $170 million in Bitcoin purchased earlier this year. Jack has also started mining Bitcoin in an attempt to innovate and further the technological advances in the space.
Loved by many, feared by many more, the controversial ex-heavyweight boxing champ Mike Tyson has been a long-time supporter and ambassador for Bitcoin. Originally becoming interested around 2015, the boxer turned crypto fanatic went as far as to launch his own Bitcoin exchange wallet in 2016 and has backed several other Bitcoin related projects since. Although his wallet isn’t mentioned often as its contenders and competition are fierce, Tyson has managed to stay relevant in the Bitcoin world, even sparking a heated, online debate to prove Bitcoin was superior to other cryptocurrencies, including runner up Ethereum. He also has been very supportive through the use of his social media accounts in promoting NFTs, and has joined several other notable celebrities in purchasing non-fungible tokens, meanwhile accumulating more Bitcoin as time passes.
Most known for hit TV show Shark Tank, and outspoken Dallas Mavericks owner, this multi-billionaire tech entrepreneur is known for being innovative and extremely forward thinking. Since his early days of streaming live sporting events online, and selling a proprietary software, Cuban has been bullish on technology, first the internet in its infancy, now on cryptocurrency, also somewhat still in its infancy. Mark Cuban is a visionary and has been unwavering on his pursuits, even in the face of adversity and skeptics. His stance on crypto has been long-rooted and Cuban maintains a very positive outlook on the future of many crypto projects. Mark Cuban announced in the summer of 2021 that Maverick fans would be able to use Dogecoin, a meme-traded “joke” cryptocurrency coin, to purchase tickets and other Mavs swag, and would obtain “special pricing” for doing so. Cuban is most recently quoted speaking very highly of Bitcoin stating, Bitcoin is “better gold than gold,” due to its scarcity, driven by algorithms and computer protocols. He went on to state that Bitcoin is a much better store of value than traditional asset classes saying, “That’s why I own Bitcoin and why I never sold it”. On a recent 2021 podcast Cuban revealed his crypto portfolio is “60% Bitcoin, 30% Ethereum, and 10% the rest”.
Other well-known celebrities have taken stake in Bitcoin and are also cheering its performance and continued success. These names include Elon Musk, Snoop Dogg, Kanye West, Paris Hilton, and Floyd Mayweather Jr. The interest, excitement, and in-flow of billions of dollars from individuals, investment firms, and celebrities alike are sure to drive the price and optimism over Bitcoin for years, and most likely decades to come.
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