4 Celebrities Who Are Fans of Crypto

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Source: Image by Marcin Paśnicki from Pixabay

Apr. 26 2024, Published 4:06 a.m. ET

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The fascination with cryptocurrency and blockchain technology is widespread and cuts across people of varying lifestyles, economic positions, and interests. Cryptocurrencies are popular among celebrities, with many endorsing blockchain projects or issuing non-fungible tokens (NFTs) related to their craft. In some cases, these celebrities simply speak in support of particular digital assets, sometimes influencing the market into a short-term bull run.

The interest in crypto is not surprising because of the blockchain sector’s evolution as a potent tool applicable in various ways, from financial strategy to fan engagement. Celebrities may also be interested in using crypto for entertainment, as a few famous names are known to frequent casino establishments. These celebrities may find some of the best Bitcoin gambling sites to place bets and win big, temporarily shifting away from brick-and-mortar establishments. As blockchain popularity increases, the following are a few celebrities with known interests in cryptocurrencies and digital assets.

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Elon Musk

Elon Musk is one of the biggest celebrity supporters of cryptocurrency today. The Tesla and SpaceX CEO has often announced his support on X (formerly Twitter), engaging proponents in discussions over the years. Musk is also very influential, as his posts sometimes trigger price swings in cryptocurrencies like Dogecoin (DOGE), leading to accusations that the billionaire businessman deliberately manipulates the market for his benefit. In addition to Musk’s personal interest, Tesla has significantly invested in crypto, buying $1.5 billion worth of Bitcoin in 2021. In the same year, Tesla also began officially accepting DOGE payments.

Floyd Mayweather Jr.

Floyd Mayweather has backed several crypto projects and is popular for endorsing several initial coin offerings (ICO). Unfortunately, his support for crypto projects attracted a lawsuit in 2022 when several investors accused the undefeated boxing champion of promoting an alleged “pump and dump” scheme. This type of scam involves artificially inflating an asset via coordinated purchases and then selling the assets for profit. Nonetheless, Floyd Mayweather Jr.’s crypto involvement draws attention to a possible connection between sports and digital assets. In addition, the boxer’s closeness to cryptocurrencies and his affinity for entertainment could create more avenues for Floyd to delve deeper into cryptocurrencies. For instance, since he is no stranger to casinos, Floyd Mayweather could be interested in the developing online gambling industry and popularize the sector enough for a positive effect on crypto adoption in general.

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Mike Tyson

Mike is another former professional boxer who has dabbled into crypto. In 2015, crypto solutions provider Bitcoin Direct LLC announced a partnership with the boxer to launch Mike Tyson Bitcoin ATMs. The company also ran an ad on its official website at the time, promising to “turn your cash into Bitcoin in under 20 seconds,” highlighting the fact that the ATM transactions are faster than Tyson’s fastest ring knockout time of 30 seconds. In 2016, Tyson launched his own Bitcoin wallet in partnership with Bitcoin Direct, facilitating digital asset transactions through a Bitcoin exchange. Recently, the controversial boxer officially became an ambassador for Ready to Fight, a blockchain-based social network app that helps boxers and members of the boxing community with related business needs.

Mark Cuban

Mark has been a vocal advocate of digital assets for a while and has supported a few projects. The billionaire owner of the Dallas Mavericks NBA team has invested in several cryptocurrencies, including Bitcoin and Ethereum. In 2021, he said his crypto portfolio is 60% Bitcoin, 30% Ethereum, and 10% for other digital assets. Cuban has said he believes Bitcoin is “a better alternative to gold,” which is why he has held his BTC for a long time and “never sold it.” He said he initially did not believe in Bitcoin until he saw its application as a store of value. On Ethereum, Cuban said smart contracts piqued his interest. He noted that the use of smart contracts for decentralized finance (DeFi) and non-fungible tokens (NFTs) “changed the game” for him. He now sees Ether as the “closest we have to a true currency,” and believes in the future of blockchain.


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