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Why Celebrity Culture Will Influence Cryptos to Soar Much Higher

InvestorPlace - Stock Market News, Stock Advice & Trading Tips Celebrity culture has fully embraced the Cryptocurrency Revolution, which has far-r...

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This story originally appeared on InvestorPlace

InvestorPlace - Stock Market News, Stock Advice & Trading Tips

Via Freepik - InvestorPlace

When it comes to cryptos, I’m a huge believe in the Influencer Economy. In fact, I’m a believer in the power of influencers, period.

After all, we live in a world dominated by social media. In this world, we spend two and a half hours every single day on Facebook, Snapchat, Instagram, Twitter, TikTok, etc. I broke those figures down on the back of a napkin, and that’s 15% of our waking time spent on social media.

Whoa.

Today’s social media is much more than a place where we connect with friends. That was social media 1.0 – the social media of the early 2010s.

Now, we’re fully immersed in the social media 2.0 era. In this era, we watch funny cat videos on social media. We follow our favorite celebrities. We reluctantly look at our exes status updates. We read the news. We get food, restaurant, movie, and product recommendations. We seek health and fitness advice. We sell stuff. We buy stuff. We grow our businesses. Get it?

A concept image of four people sitting on a couch with different social media platforms floating on top of them.
Source: Via Freepik

We use social media for everything these days.

But we also don’t trust social media companies or the firms that advertise with them. It’s a weird dichotomy. We love the platforms. We use the platforms. All the time. For everything. But we hate the corporations running those platforms.

So… what do we do? Well, we place our trust in the people on the platforms, not the ones behind the platforms, because that allows us to benefit from the value-propositions of social media and still maintain our individuality and independent thinking.

The result? The people who are hugely popular on social media platforms – aka influencers – have enormous influence. They are a huge driving force of consumer behavior.

When pop star Justin Bieber told his followers to go and buy Crocs shoes in 2020, they did just that, and it started a Crocs fashion frenzy that has yet to fade. Crocs (CROX) stock is up almost 250% over the past year.

When NBA superstar Kyrie Irving and a handful of NBA players started promoting Beyond Meat’s products in 2019, their followers started buying plant-based meat. Beyond Meat (BYND) stock is up nearly 5X since its 2019 IPO.

When artist Kanye West partnered with Adidas back in 2015 and started creating shoes for the athletic apparel brand (which he subsequently promoted on social media), his followers swarmed to buy the Yeezy shoes. Since then, Adidas (ADDYY) stock has increased by more than 350%.

Get the point? I’ve seen it time and time again. Influencers drive consumer behavior. Consumer behavior drives earnings. Earnings drive stock prices. Thus, by the law of transitivity, influencers drive stock prices.

This is partly why I’m so bullish on cryptocurrencies over the next few years. Have you seen all the influencers jumping into the crypto craze lately?

How Celebrities Are Embracing the Crypto Markets

Tech icon Elon Musk is a staunch cryptocurrency bull, who continually voices his opinion on Twitter that cryptos will replace fiat currencies.

NBA superstar Steph Curry just announced a partnership with crypto platform FTX after asking his Twitter followers about cryptos.

NFL superstar Tom Brady is big into cryptos. His teammate, Rob Gronkowski, just signed on as a brand ambassador for crypto brokerage Voyager Digital.

Global soccer icon Lionel Messi just launched his first collection of NFT tokens, dubbed the “Messiverse.”

Reality TV star Kim Kardashian promoted the Ethereum Max token in an Instagram post in June.

Actress Reese Witherspoon posted on her Twitter just days ago that she bought her first batch of Ethereum. That same day, Paris Hilton took to Twitter to say she loves Bitcoin.

Boxing legend Manny Pacquiao just launched an NFT Collection on Ethernity. Also on board the crypto train are tech billionaire Mark Cuban, Game of Thrones star Maisie Williams, and hip-hop icon Snoop Dogg.

The point is that celebrity culture has fully embraced the Cryptocurrency Revolution.

That’s big. Because it means that some of the world’s most influential people are telling their tens-of-millions of social media followers to embrace cryptos. Naturally, that will lead to increased adoption in blockchain products and services, and increased adoption of these solutions will ultimately drive the long-term price trajectory of cryptos.

So long as adoption rises, crypto prices will trend higher.

Right now, adoption is soaring, because celebrity culture has thrown its full weight behind the Crypto Revolution. What comes next? A big rally in cryptocurrencies.

There is, however, a “dangerous” side to this celebrity-driven rally in cryptos, and that’s that these celebrities oftentimes don’t know the difference between a “good” crypto and a “bad” crypto, meaning if you listen exclusively to the celebs, you could be left holding the bag on a crypto that loses 50% or more of its value – while the “good” cryptos soar several hundred percent…

But we do know that difference.

In short, I’ve assembled a team of blockchain experts, including teaming up with legendary early Bitcoin investor Charlie Shrem. Together, we’ve studied the cryptocurrency markets inside and out. In that process, we’ve discovered that every single cryptocurrency has a unique “code” – a unique set of critical metrics that determines the validity and probabilities of success of a crypto.

We developed a reliable, quantitative system to decipher that code, for every crypto, so that we can identify the best cryptos in the market before they soar thousands of percent.

And this isn’t just hot air. It’s a proven system that has helped create a portfolio of cryptos that is up a jaw-dropping 760%.

On Wednesday night, Sept. 15, at 7 pm. Eastern, Charlie and I are going to sit down and reveal this total game-changing cryptocurrency investment system at our first-ever Crypto Code Event.

Trust me. This is an event you do not want to miss. The crypto markets are going to soar over the next few years, and our proprietary system could be the difference between you picking winners and making 500%-plus returns and you picking losers and throwing half your money down the drain.

Click here to reserve your seat now.

On the date of publication, Luke Lango did not have (either directly or indirectly) any positions in the securities mentioned in this article.

The post Why Celebrity Culture Will Influence Cryptos to Soar Much Higher appeared first on InvestorPlace.