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Bitcoin offers various benefits as a payment method and alternative currency. Even though in the beginning, a lot of people thought it is another scam, and could not fully comprehend the advantages of the blockchain network, today, cryptocurrency has attracted numerous investments by reputable organizations that have shown otherwise.
Nowadays, there are approximately 70 million Bitcoin wallets across the globe, and it is estimated that during the last decade, approximately 100,000 individuals have become millionaires thanks to Bitcoin's growth.
Some of the people who support and have invested in Bitcoin are celebrities, including famous companies. In this article, we explore some of the most famous Bitcoin investments and their impact on cryptocurrency.
Square is a reputable company that offers point-of-sale solutions to businesses and mobile payment services. It has grown rapidly over the years, and as a modern company, it was no surprise that it saw Bitcoins' potential.
Square supported Bitcoin by investing $170 million in BTC, not long after Tesla made its famous investment of $1.5 billion. This company now owns about 8,027 Bitcoins, and it also accepts BTC payments.
Both the investment of Tesla as well as Square impacted the credibility of Bitcoin, and it also boosted the price of the digital currency because the crypto market is still small, and this kind of event definitely shakes up the trajectory of Bitcoin's price. After the investments, Bitcoin's value soared to $60,000 in March.
Michelle Phan is a famous YouTuber who was one of the first content creators on the platform to gain over 1,000,000 subscribers. Since her fame on YouTube, she has developed her successful makeup brand Em Cosmetics and used her fortune to invest in other start-ups – like Thematic, a start-up that helps people use music without copyright infringement. Michelle Phan also shared her views on Bitcoin because she started researching Bitcoin early on in 2011 and has invested in the cryptocurrency.
If you also want to buy a Bitcoin, there are accessible online trading sites that offer this option. For instance, News spy offers auto-trading to its users, which means they can trade on the platform even if they lack the time or the skills. The entire process is automated, while the system has a high profitability rate of up to 70%. Another advantage is that you only pay a commission of 2% when you make a profit. You can start trading by depositing at least $250.
50 Cent is a famous American rapper, actor, and producer, and he is also one of the first supporters of Bitcoin, back when one Bitcoin was only worth about $662 in 2014. He is also one of the first celebrities to accept BTC payments.
So, when his album Animal Ambition was released, the rapper announced that he would also accept purchases in BTC. Allegedly 50 Cent has about 700 Bitcoins, and thanks to the last bull cycle of the cryptocurrency, his investment would be worth a fortune today.
Marc Andreessen is a famous entrepreneur that is credited for developing the first web browser and software engineer. He is the co-founder of the venture capital firm Andreessen Horowitz. Marc Andreessen has publicly expressed his view on Bitcoin, and also he penned an article, 'Why Bitcoin matters?' for the New York Times. He has invested approximately $50 million in Bitcoin-related start-ups.
In conclusion, Bitcoin is one of the most valuable assets, and a lot of investors, including celebrities, treated it as a safe-haven asset. So, in the future, we expect even more attention regarding cryptocurrency as the supply of BTC is diminishing, there are only 21 million BTC, and by now, we have mined about 80% of the total number of tokens.
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Disclaimer: Analytics Insight does not provide financial advice or guidance on cryptocurrencies and stocks. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. This article is provided for informational purposes and does not constitute investment advice. You are responsible for conducting your own research (DYOR) before making any investments. Read more about the financial risks involved here.
