Investing in Bitcoin has become a very popular thing as it proved to be extremely popular. Some research has shown that there may be as many as 100,000 millionaires in the world who managed to amass their fortune by trading with this cryptocurrency.
While there are still those that think that Bitcoin is a scam and that no one actually invests in it, facts state otherwise. According to research, there may be around 5 million Bitcoin users on the planet. To make things even more interesting, there are quite a few celebrities included in those 5 million.
That is exactly the topic that we wanted to discuss in this article. We’ll be taking a look at some of the most popular faces on the planet and see how they are affiliated with Bitcoin. But first, let’s check out the process of making money with Bitcoin.
How Do People Profit off Bitcoin?
First off, before you can sell Bitcoins, you must own a certain amount of this digital currency. There are two options for that – mining and buying. Mining is a very complicated and long process that requires you to have a powerful software device. But, the good part is that it is free, meaning that every Bitcoin that you will sell is a pure profit.
Mining is actually solving various complex puzzles. As for the question of why you solve puzzles, it is because each puzzle represents a Bitcoin transaction that you need to verify. Verified transactions become blocks and they are part of Bitcoin’s blockchain.
The second option is buying them at trading sites, which are also the platforms where you can sell Bitcoins. After registering at reputable trading sites such as Crypto Engine, you will be provided with an AI system that analyzes the market and makes accurate predictions on how Bitcoin will fluctuate in the near future.
As this Crypto Engine review tells, the AI system is a very powerful tool to have as it helps traders battle the high volatility rate of this cryptocurrency and maximize their profits. That is why the profitability rate at this site is very high.
Now that we’ve cleared this, let’s take a look at some celebrities that accept Bitcoin.
50 Cent was one of the first music artists to publicly support Bitcoin. Back in 2014, he announced that he will be accepting Bitcoin as a payment method for his latest album release, Animal Ambition. Several years later, it was speculated that he managed to make millions of dollars off Bitcoin.
Logic is one of the most recent celebrities that have dived into the Bitcoin world. Back in autumn 2020, he stated that he invested $6 million in Bitcoin. During this time, Bitcoin was still valued at around $10,000. Considering the fact that this cryptocurrency has risen a lot since then, we can only assume how big of a profit he must’ve made.
Elon Musk has always been supportive of innovations and his opinion on Bitcoin is no different. Recently, he announced his involvement with Bitcoin via his automotive company, Tesla. The car manufacturer stated that they invested $1.5 billion in Bitcoin in February 2021.
Our last entry is one of the artists that knows how to handle the business side of music. Russ is an indented artist that produces, mixes, masters, and engineers his own music. He was the first artist to go platinum with no features and no other production names with his album There’s Really A Wolf. He has shared a few Instagram stories in which he said that one of the cryptocurrencies that he invested in was Bitcoin.
Original posted at filmdaily.co