2020 has been a great year for the king of Crypto, Bitcoin, as it has witnessed an incredible increase hitting $18,000 as well as an uptick in adoption by several numbers of prominent celebrities.
Grammy-nominated former rapper Robert Bryson Hall II, commonly known as Logic, becomes the most recent celebrity to embrace Bitcoin after taking to his Instagram account to announce that he has purchased $6 million worth of Bitcoin.
“My $6 million in Bitcoin last month. **** it. YOLO. Seriously,” he wrote.
Taking into account the rapper post, he noted his purchase was last month, October when Bitcoin traded below $13,500 but has since surged to $18,211 gaining almost 25% over that period of time.
Additionally, the 30 years old US rapper announcement also attracted positive reactions as Changpeng Zhao, CEO of Binance via his official Twitter handle recognize his adoption of Bitcoin.
Other celebrities adopting Bitcoin
It is important to note that Logic is not the only celebrity adopting digital currency. The King of crypto, in particular has seen major adoption in recent times. Most recently, famous actress and Game of Thrones star Maisie Williams disclosed that she had purchased some bitcoin after taking a poll if she should buy the digital currency or not.
Similarly, Maisie’s tweets attracted many crypto enthusiast’s responses. Notable, among the reaction to her adoption, was Elon Musk, the CEO of Tesla and a popular Bitcoin enthusiast, who tweeted, “Toss a bitcoin to ur Witcher.”
Billionaire and ex-hedge fund manager Mike Novogratz also reacted by asking Maisie Williams to buy Bitcoin. He also noted that he believes the price of Bitcoin would hit $65,000.
Meanwhile, Ricardo Salinas Pliego, Mexican billionaire and founder of the Grupo Salinas business is another popular figure who recently adopt Bitcoin. Announcing that he’s holding over 10% of his liquid assets in the digital token.
According to him, the digital token protects people from government expropriation, as well as give them a financial freedom.
Additionally, some other celebrities who currently own cryptocurrency includes, hip-hop star Curtis Jackson III, popularly known as 50 Cent, Paris Hilton, DJ Khalid, Akon, Gwyneth Paltrow, Ashton Kutcher, Snoop Dogg, Floyd Mayweather Jr., Johnny Depp, and Madonna, amongst several others.
It is worth noting that apart from celebrities adopting digital currency, other investors, fund managers, and enterprise software platforms are currently embracing the digital token.
Paul Tudor Jones, a popular billionaire hedge fund manager, backed the adoption of Bitcoin in an interview with CNBC. He spoke highly of the digital token and noted that the asset was an attractive hedge that can protect against inflation.
Payment giant, PayPal also recently announced its support for digital currency. Currently, enabling eligible users in the US to trade cryptocurrency directly from within their PayPal accounts. Notably, PayPal is offering crypto in the US with an initial offering for Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH) and Litecoin (LTC).
Also, popular business intelligence company MicroStrategy, disclosed that it has invested $425 million in the famed cryptocurrency during August and September of 2020.
Bitcoin now 16th place among world’s biggest entities
AssetDash, a popular tracking platform has announced that Bitcoin’s total market capitalization has surpassed Coca-Cola, Mastercard, etc.
According to AssetDash, the king of crypto market capitalization rose by over 3% replacing NVIDIA and payment giant Mastercard who now sits at 17th and 18th place respectively.
The king of crypto has surpassed other multinational companies as well, including Walt Disney Company, Bank of America, PayPal, amongst others. And the King of crypto with $344 billion is closing the gap on Visa, Tesla, JPMorgan Chase & Co, etc.
Interestingly, Bitcoin has witnesses surged over the last few days. At of press time, the digital token according to Coingecko was trading at $18,599.93, with a new all-time high market cap of $345,008,948,323 and a 24-hour trading volume of $28,539,810,682.