Celebrities and crypto often go hand in hand. Not only because they have the cash to invest. Some also use their fame as a marketing strategy to promote crypto projects. Money makes money. Celebrities live it up, and the whole world wants to join in. While many celebrities are often in the spotlight for advertising campaigns or even as influencers themselves, ordinary people value their privacy. And a growing number of guides are offering instructions on how to buy Bitcoin anonymously online.
Specialist Alexander Reed explains that more and more people are looking for ways to buy BTC and other cryptocurrencies without revealing their identity. People are becoming increasingly skeptical and do not want to disclose their data, even for privacy or security reasons.
Even if some people are still reluctant to rush to join the crypto movement, crypto is here to stay, and those who get involved early and know what they’re doing have a clear advantage. Here are some celebrities who are involved with crypto and what we can learn from them.
Known Celebrity Crypto Fans and Their Impact
Many celebrities have already been involved with cryptocurrencies, while crypto was still a foreign concept to others. Take Elon Musk, for example. In 2021, the owner of Tesla and CEO of SpaceX invested $1.5 billion in Bitcoin. At that point, Musk was already considered the richest person in the world. But that’s not all. He also supports other cryptocurrencies, such as Dogecoin, and has triggered price fluctuations on several occasions through purchases and public announcements on social media platforms.
Rapper Snoop Dog has also been a familiar face on the scene since 2013. In 2021, his album Bush was released, which was available for Bitcoin. While Snoop Dogg didn’t sell the album with Bitcoin on his own official website, fans could purchase it with BTC via several platforms. This move not only boosted Snoop Dog’s own popularity but also that of Bitcoin, and inspired fans to invest.
Reality TV star Paris Hilton is a well-known NFT fan. Back in 2016, she publicly expressed her affinity for Bitcoin and Ethereum, and is known for investing in digital art (NFTs).
Countless celebrities from a wide variety of sectors are involved in crypto. While they promise high returns and participation, they also stir up the crypto market and influence (whether intentionally or unintentionally) its fluctuations.
Celebrity Marketing and Public Perception
Since the eyes of the world are already on celebrities, many crypto companies are taking advantage of this publicity to promote their coins. Well-known faces such as Matt Damon and Larry David, for example, have already posed in front of the camera for crypto marketing purposes.
While celebrity marketing is supposed to stimulate sales of certain coins, studies show that the opposite can be true. Business YouGov surveyed in the UK in 2021 to find out how celebrity marketing affects the population. The result: three-quarters (73%) say they wouldn’t be more likely to buy any crypto if they saw a celebrity in an ad for it. A fifth (20%) even say they’d be less likely to do so. Surprisingly, celebrity advertising doesn’t seem to go down well with the public.
However, advertising is advertising, whether positive or negative. For many new coins, it is important to first establish a presence in everyday conversations. Because people stick to what they know, and if they know about a cryptocurrency, they are more likely to buy it in the future.
Celebrity Crypto Projects
Between fame and the delusion of wealth, some celebrities even become megalomaniacal and launch their own crypto projects. Unfortunately, these often go awry.
In 2018, singer Akon, for example, announced plans to found a city called “Akon City” in Senegal, with Akoin as the official currency. Allegedly, this $6 billion project was intended to financially include African countries and support their economic and healthcare development. In 2025, however, “the dream” was canceled by the government of Senegal because no progress had been made.
Conclusion: Always Stay Alert
Crypto investors need to be on guard at all times. Many celebrities often act out of self-interest and publicly express positive opinions about certain coins without disclosing that they are being paid for the advertising.
In doing so, they “pump” up the popularity of the coin, many people invest, and the price rises rapidly. When the price reaches its peak, the coin is “dumped.” This means that the initiators, who own large shares, sell them. As a result, the price falls rapidly, and investors are often left with a worthless coin.
A fairly recent example is the case of the “EthereumMax” token. It was advertised by stars such as Kim Kardashian and Floyd Mayweather without mentioning that they were paid to do so, and they were later even sued for it.
Pump-and-dump schemes are not isolated cases, and investors should always be well-informed before acting.
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