Cryptocurrency has caught the attention of entrepreneurs and celebrities alike. Oscar-winning actress Reese Witherspoon recently said she bought her first Ethereum coin. This was followed by yet another celebrity, socialite entrepreneur Paris Hilton, who shared her love for Bitcoin on Twitter. Ethereum and Bitcoin are the two top cryptocurrencies in terms of market capitalization.
Witherspoon however has not disclosed the amount she has invested in Ethereum. On September 4 (3:50 PM IST), the Ether price in India stood at Rs. 2.99 lakhs.
Hilton announced her “love” for Bitcoin and shared a tweet from Michael Saylor, the cryptocurrency’s largest corporate financier. Saylor’s message read, “Diamonds may be your best friend, but Bitcoin is forever.” On September 4 (3:50 PM IST), the Bitcoin price in India stood at Rs. 38.23 lakhs.
The tweets arrived as cryptocurrency prices left the market crash in May, when most digital coins lost much of their value and appeared poised to rise again. Some coins are already showing signs of their determination. According to CoinMarketCap, Bitcoin traded above $50,000 (approximately Rs. 37 lakhs) on September 4, a gain of nearly $12,000 (approximately Rs. 9 lakhs) from a month ago. Similarly, Ethereum has gained more than $1,400 (about Rs. 1 lakh) since August 5.
Many people welcomed the two celebrities to the crypto world. Among them was YouTuber Logan Paul, who offered Witherspoon an NFT from the World of Women collection.
Hilton has been highlighting its support for Bitcoin for some time now. She had previously welcomed NFL legend Tom Brady “to the team” after he changed his profile picture to include laser eyes. The laser eyes mean that the person putting on the look is “laser-aimed” at seeing the Bitcoin price hit $100,000 (approximately Rs. 73 lakhs).