How did the opinions of famous people about cryptocurrency change?
Cryptocurrencies have been around since 2008, from bitcoins to many other crypto coins. Although these new assets are aimed at ensuring financial stability, the crypto market remains highly volatile.
However, this fact does not keep many financial experts, economists, politicians, and celebrities from investing in cryptocurrencies more than ever.
Cryptocurrency is no longer for geeks
Over the past seven years, interest in cryptocurrency has been growing not only among investors and venture capitalists but also among politicians and celebrities.
New American actor and rapper known as Childish Gambino was one of the first celebrities to support the use of bitcoin. In an interview back in 2013, the artist took an interest in bitcoin and, like Snoop Dogg, announced that he didn’t mind accepting bitcoin as a form of payment for his album.6
In 2014, singer Lily Allen confessed that she regrets giving up the opportunity to perform on the website of the virtual world Second Life for 6 million British pounds, paid in bitcoin.
She originally tweeted:
“About 5 years ago someone asked me to stream a gig live on second life for hundreds of thousands of bitcoins, “as if” I said. #idiot #idiot”
– Lily Allen (@lilyallen) January 5, 2014.4
In addition to producing electric vehicles and planning to send people to Mars, Elon Musk likes to tweet about cryptocurrencies:
Although Elon is an innovator and loves finance, he has few bitcoins. In 2018, he tweeted: “I have literally zero cryptocurrencies, apart from the 0.25 BTC that a friend sent me many years ago.”
The image of cryptocurrency is changing around the world faster than ever. Bitcoin (BTC) and Ether (ETH) are no longer a bubble. BTC’s market cap is now larger than that of Coca-Cola and Intel, and blockchain is integrated into many areas and operations.5
We talked about industries that are already actively using cryptocurrency in one of our previous articles: “How business uses cryptocurrency.”
Opinions and forecasts of experts on the future of cryptocurrencies
Over the past two years, the opinions of many experts on the development of cryptocurrency have changed. In 2018, many analysts predicted the end of the crypto winter, while some industry leaders expressed very optimistic views.
Dan Morehead, the founder of investment firm Pantera Capital, said in 2018 that “the capitalization of the cryptocurrency market could reach 40 trillion dollars.”
Tim Draper, venture capitalist, investor, and founder of Draper Fisher Jurvetson predicted in September 2018 that the total cryptocurrency market capitalization “will reach 80 trillion dollars over the next fifteen years.” 2
And this year, Tim Draper predicted that “by the end of 2022, the price of Bitcoin will reach 250,000 dollars”. He also added that he “underestimates the Bitcoin market. Bitcoin and AI can change all industries, including the banking sector.”
“Bitcoin and cryptocurrency are becoming more and more popular. As usability gets better, access to these assets will be very simple and straightforward. Bitcoin will become a must-have asset in the portfolio of every investor — small or large — in 2025. Besides, we are seeing much more regulation in this area, which is not only necessary but will also help increase its credibility,”1 said Eric Demuth, CEO and co-founder of Bitpanda, in a recent interview.
The interest of celebrities and politicians in Ripple
Ripple could be the first cryptocurrency to topple bitcoin in the coming years as it helps financial institutions save money and be more efficient in payment flows.
Ashton Kutcher, who invested in Ripple through his venture capital firm Sound Ventures, was featured with his partner on The Ellen DeGeneres Show, where they talked about Ripple and its future. “Ripple is a platform for quickly transferring money from account to account. Millions of people watched this episode on TV, which made Ripple widely known,” shared Ashton.
Former US President Bill Clinton also shared his positive thoughts on Ripple and the technology that powers its cryptocurrency. He said the cryptocurrency “has the potential to be applied across national borders and income groups.”
Cryptocurrency in its infancy was something alien to most people. Due to its nature, among other things, it was initially difficult for many to understand cryptocurrency, let alone invest in it.
Over time, however, cryptocurrencies began to gain traction and their reputation grew. The days when only engineers, developers, and entrepreneurs invested in cryptocurrencies are gone.
Nowadays, cryptocurrency is actively entering our lives, and more people recognize it as a serious part of the financial future. In turn, Cratos believes in the future of cryptocurrencies and envisions a long-term relationship with every client.