Let’s face it, with all the social media followers that A-listers have, they set the trends by their mere words, and when the talk of the town is about celebrities who own bitcoin, ears perk up.
Cryptocurrency comes in different flavors, but Bitcoin is the most recognizable name with a very high value. Other popular types are Litecoin, Ethereum, and Ripple. In fact, this chart illustrates the market cap of the top 1000.
Without even looking, by the time you read this article, it’s safe to say bitcoin valuation has most likely gone up or even taken a heavy dive. It’s still the wild west out there with this type of investment, but one thing we do know. Celebrities who have bought into bitcoin have seen a return in the millions. They actually could quit their day job.
How Does Bitcoin Work?
With bitcoin, as well as most of these other types of cryptocurrency, there is no bank involved. Encryption protects you and no one really knows who you are since transactions are anonymous. Anyone can see and follow your Bitcoins, but that’s all they’ll ever know.
This is all done through the magic of blockchain technology, which is essentially a super-secure database method. This ensures no single user or group has control of the technology. In a nutshell, everyone has control and people can transfer funds from bank account to bank account securely and fast.
In 2013, Snoop Dog slid to the front of the cryptocurrency line announcing that he’ll be accepting bitcoin for an upcoming album.
The numbers aren’t official but at an evaluation of about US$1,000 per album, it’s not hard to see he made a pretty penny before most had ever heard of a bitcoin. What’s an album cost these days, 20 bucks?
We think he would do A-OK taking the cryptocurrency route. Snoop Dog also seems to be a regular on the blockchain and cryptocurrency party scene, a testament to how he embraces this technology.
Just when we thought his passion was killing time cooking with Martha Stewart, he keeps reinventing himself. Seems the only thing consistent about him is the weed. Carry on, Snoop, we ain’t judging.
When it comes to celebrities who own bitcoin, Ashton Kutcher is no stranger to all things digital including tech investing.
In fact, he was an early investor in Uber and Airbnb when they were finding their legs. His cryptocurrency of choice is Ripple, which ranks third in value behind Bitcoin and Ethereum.
He and his investor partner Guy Oseary actually made a substantial donation of US$4 million to Ellen DeGeneres’ Wildlife Fund which was paid with Ripple currency.
Ellen is right up there with Oprah Winfrey when it comes to celebrity giving, so we know how much she appreciated the gesture, even if she didn’t know what just happened by pushing a button on Ashton’s phone. Cryptocurrency transfers are that fast and that easy.
Ashton has also been a fan of Bitcoin, allegedly collecting since 2013. Maybe Snoop’s “pay me in crypto” album caught his eye since the timing was about right. By the way, that wasn’t the name of Snoop’s album.
Skateboarder extraordinaire Tony Hawk has been an early trailblazer in his own right, turning his ride to school into a professional sport. True to form, he was also an early investor in bitcoin, where a tweet in 2019 stated he’s “been riding it for 6 six, haven’t bailed yet.”
Since bitcoin was trading at under US$1,000 at that time and now has crested around US$23,000 it’s safe to say just a handful of these coins would make anyone’s day at today’s value.
Tony has also been on the speaker lineup at the Bitcoin 202 conference (now pushed to 2021). Bitcoin is the largest cryptocurrency and for them getting celebrity endorsements is a big deal. If you were ever a kid or played a video game, you know Tony Hawk. That about covers everyone.
Tony also has his own foundation called the “Skateboard Project” where he collects funds to build skateboard parks for safe, legal places to skateboard. You guessed it – you can donate in Bitcoin.
Melanie Brown (Mel B)
Back in 2013, former Spice Girl and celebrity judge on NBC’s America’s Got Talent Mel B was the first mainstream artist to accept the digital currency.
Her single “For Once In My Life” was sold directly through her website allowing Bitcoin payments.
She stated that Bitcoin “unites her fans all over the world with just one currency.”
She’s such an avid fan of cryptocurrency that she even offered a special discount to those who paid with Bitcoin.
Tyler and Cameron Winklevoss
It’ll always be one for the books whether or not Mark Zuckerberg stole Tyler and Cameron’s idea which we now know as Facebook, but one thing’s for sure – these identical twin mavericks are unstoppable.
Previously unknowns before Facebook happened, the two have now become well-known celebrities in their own right who own Bitcoin.
With a settlement from Facebook for around US$64 million (the number is complicated since much of the settlement was in Facebook stock) the twins became heavy Bitcoin investors.
Regardless of how they felt they were unjustly treated, their investment in cryptocurrency has made them billionaires so all’s well that ends well.
Buying US$11 million worth of Bitcoin in 2013, each of the twins is worth more than a cool billion. Bitcoin has gained 115% this year amid central bank easing and these guys think it could someday reach a value of US$500,000 per unit. That makes the current 20 grand or so price a steal if you can get one.
Where’s Cryptocurrency Heading?
Here’s how they sum it; “Our thesis is that Bitcoin is gold 2.0 and it will disrupt gold. If it does that it has to have a market cap of $9 trillion.
So we think bitcoin could price one day at $500,000 a bitcoin. So at $18,000 bitcoin, it’s a hold or if you don’t have any it’s a buy opportunity because we think there’s a 25x from here.”
These celebrities who own bitcoin have all jumped in early embracing the digital currency, but all things being equal, this plateau just might be the bottom of a new hill.
So it’s not too late if you have the stomach and bucks to ride the next wave. Just remember, if you’ve ever been out to sea you know waves go up and down.