Dozens of high-profile celebrities have taken the plunge and put portions of their hard-earned fortunes into digital assets like Bitcoin. Some celebrities have been more vocal than others about digital assets and how they work. Today we’ll examine the three who have spent more time and money than their contemporaries trying to make money from cryptocurrency.
As one of the biggest names emerging from the East Coast hip-hop scene in the early 1990s, Snoop Dogg has built considerable wealth through solid investments over the last 25 years. Estimates vary, but the rapper is believed to be worth around $150 million. Snoop has long been an advocate of cryptocurrencies, and he’s not just somebody who had a fleeting interest during the bull run; he’s invested at all levels of the industry, from digital art (NFTs) to crypto casinos.
While it might seem a bit of a bizarre combination, the 51-year-old Californian is well-versed in the benefits of digital assets and the ups and downs of investing in the volatile commodity. He knows all too well the benefits of cryptocurrency casinos for users, having previously advertised several services. Cryptocurrency casino investments are captivating simply because they do not run like traditional casinos and have noted speed, efficiency, and security improvements. Irrespective of whether you’re playing roulette or a slot machine game, you can deposit your money instantly without having to worry about the transaction being frozen.
Internet users who are interested in gaming can play slots with Bitcoin directly from the personal wallet. While this is still finding its feet, and the true power of cryptocurrency casinos has yet to be fully realized, Snoop Dogg has got in early, much like he did with NFTs. Like a true investor, he sees severe dips as an opportunity and plans to remain in the space for many years.
As the daughter of a billionaire property tycoon, some people fell into the trap that Paris Hilton was simply a socialite who was good at spending her Father’s money. It’s fair to say Paris leaned into this image in the noughties, starring in a host of reality shows, which might have sold people, under false pretense, that she might not have been as business savvy with her investment as she actually is.
While many celebrities didn’t begin investing in cryptocurrency until the prices started to explode in the rush of 2021, Paris revealed she invested in Bitcoin and the king of the altcoins, Ethereum, over seven years ago, which is a lifetime in the cryptocurrency space for those of us that have been investing for years. Paris has other indirect investments in the space ranging from exchanges to a number of NFT projects, so this shows she’s somebody who understands how the digital asset space actually works.
Despite the horrendous dip that occurred in 2022, her investments are still varied, and like any good investor, she has held her product and has the conviction to see out the dark days and take profits during the good. If there’s another bull run around the corner, which many people are under the impression that there is following the Bitcoin halving, Paris could be one of the few celebrities who make big gains.
While many other celebrities have waxed lyrical about Bitcoin and blockchain technology for years, the fact that the world’s richest man sees it fit to invest nine-figure sums shows the asset’s potential and the conviction that Musk has in the technology.
Saying the eccentric South African billionaire is a cryptocurrency proponent would be underselling it completely. The “Dogefather” sent Dogecoin to unimaginable highs a little over two years ago, and his brainchild, the gigantic technology company Tesla, is one of few multinational companies with cryptocurrency on their balance sheet.
Elon recently revealed that the gigantic company didn’t sell any of their Bitcoin in 2022 despite strong detractors forces ranging from oppressive American regulatory actions to a disastrous drop in the overall market price.
While this approach in America might be pushing away some of the top corporations and individuals to move to countries where cryptocurrency laws are more favorable, this approach would be counterproductive for Musk, who employs tens of thousands of people in America. However, he still understands the importance of blockchain technology and has made arguably the most significant, individual, positive impact on the market.
Maybe twenty years from now, we’ll see these celebrities as early adopters of the next big thing. Bitcoin might see mass adoption, and everybody might discuss how these pioneers were one step ahead of 95% of people. Who knows? It might work the other way and be relegated to the history books – but at the moment, it looks like the future is bright for blockchain, Bitcoin, and a lot of the other associated cryptocurrencies that fall under the same bracket.