Celebrity endorsements matter a lot to crypto investors in the United States, according to a survey.
Crypto has been the talk of the hour for some time now. Everyone with an internet connection has come across cryptocurrencies in one form or another. Whether it be some of the tech moguls like Elon Musk tweeting about it or Bitcoin gaining value, it is one of the better things that came out of 2020.
But as acceptance of these new-age currencies rises, a lot of skepticism is also growing around them. Many people who are not well versed in the latest tech do not trust them, as is the case for many financial institutions too.
Most of them have been at loggerheads with the cryptocurrencies and makes trading for them harder. The most famous case is the USA’s SEC vs Coinbase, in which the latter has been accused of using underhanded techniques to delay their new services.
In a recent survey, 45% of the people who took part in it said that if a celebrity endorsed the currency, then they would consider buying it. This means that people still trust public figures and how much their opinions matter to them.
Recently, Kim Kardashian asked her 255 million followers to join Ethereum Max, a new cryptocurrency in the market. The Financial Conduct Authority in England came out with a warning to dissuade people from buying cryptocurrencies on the word of influencers.
If you have been on the fence about whether to buy crypto or not, this is the perfect time to get in on the trade. Its value is going to increase in the future and may soon enough be out of reach of most people.