A Look at the History of Celebrity Crypto Endorsement

Cryptocurrency has been a popular trend for the past few years, and many celebrities have hopped on board, endorsing different crypto projects.

Celebrity endorsements of cryptocurrency began in 2013 when actor Ashton Kutcher publicly endorsed Bitcoin. Since then, many more stars have followed suit, with some actively promoting crypto-related initiatives.

E! News  / Celebrities are proactive in endorsing the cryptocurrency industry.

In this article, we will look at the history of celebrity crypto endorsement and how it has evolved over time. We will discuss the various celebrities who have endorsed cryptocurrencies and what impact their endorsements had on the industry overall.

Early Endorsements

In 2013, Ashton Kutcher became one of the first celebrities to endorse cryptocurrency when he tweeted about it. He said that Bitcoin was going to be “huge” and that it was going to “change the world.” His endorsement of cryptocurrency had a big impact on the industry and catalyzed more celebrities to start speaking out in favor of digital assets.

Following Kutcher’s tweets, other celebrity crypto endorsements started popping up. Boxer Floyd Mayweather endorsed the decentralized betting platform Stox in June 2017 and tweeted about his excitement for the project. That same year, actor Jamie Foxx announced his involvement with trading network Cobinhood and shared a promotional video on Twitter.

Jackie / Ashton Kutcher is the first known celebrity who endorsed cryptocurrency for the first time in 2013.

Continued Prominence

In 2018, celebrity endorsements continued to remain prominent within the crypto industry. Billionaire investor Mark Cuban publicly endorsed Initial Coin Offerings (ICOs) as legitimate ways for businesses to raise capital. He also personally invested in a few ICOs and even started his own crypto project called Mercury Protocol.

Musician Akon also joined the fray, launching his own cryptocurrency called Akoin in June 2018. The coin is designed to be used in Akon’s newly-built city in Senegal, which will become a hub for tech businesses, blockchain startups, and entertainment.

Later that year, actress Paris Hilton tweeted about her involvement with LydianCoin, a digital asset backed by blockchain technology. She said it was “the future of payments” and encouraged her followers to check it out. However, the coin quickly fell into obscurity and has since been delisted from many exchanges.

Recent Endorsements

In 2019, more celebrities began to show their support for cryptocurrencies. Actor Steven Seagal became a brand ambassador for Bitcoiin2Gen, a cryptocurrency project backed by blockchain technology. He was also involved in promoting the coin’s Initial Coin Offering (ICO).

CNBC  / With the endorsements of millionaires like Mark Cuban in 2020, celebrity endorsement of cryptocurrency became a celebrity trend.

Social media influencer Kim Kardashian West has also recently gotten involved with cryptocurrencies. She partnered with payment processing company CryptoKitties to create her own digital cats that could be bought and sold in exchange for cryptocurrency.

The Final Word

Celebrity endorsement of cryptocurrency has been growing over the past few years and shows no signs of slowing down. These endorsements have had both positive and negative impacts on the industry, with some projects becoming more successful due to celebrity involvement while others have been forgotten.

Regardless, the influence of celebrities on the crypto industry is undeniable and will likely continue to drive growth and innovation within the space.