Crypto has arrived in Hollywood and the stars love it!

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Crypto has made its way into almost every major industry. So it’s no surprise that he’s obviously made his way into Hollywood. Now the stars are announcing their crypto investments. The gains that crypto brings cannot be overstated and even the rich and famous don’t want to miss them.

Recently, renowned actress Reese Witherspoon took to Twitter to announce her entry into the crypto world. The two-time Oscar winner and eight-time Golden Globe winner revealed that she made her very first purchase, which was Ethereum.

Related reading | Bitcoin at $ 100,000, Ethereum at $ 5,000 is path of least resistance, says Bloomberg Crypto Analyst

Witherspoons’ revelation opened the floodgates, as responses ranged from people congratulating her on this trip to people outright offering her their coins. The actress’ follower count also saw an increase after the tweet went live. Crypto Twitter appeared to have come out en masse to welcome the actress.

I just bought my first ETH! Let’s do this #cryptotwitter

– Reese Witherspoon (@ReeseW) September 2, 2021

Related reading | Venture capitalist Bill Gurley takes personal stance in Ethereum, here’s why

At this point, it’s safe to say that Witherspoon has launched almost every crypto token worth mentioning in the market. In the midst of this, Logan Paul offered to show the actress the NFT world. Paul had responded to Witherspoon by asking for his ETH address so that he could offer his first NFT project, World of Women.

welcome to Reese club DM me your Eth address, I would love to gift you this @WorldOfWomenNFT because you might be related. And that would be badass for your first NFT project pic.twitter.com/epA0EZQdXG

– Logan Paul (@LoganPaul) September 3, 2021

Celebrities Are Going Crypto

Witherspoon isn’t the only celebrity to jump on the crypto bandwagon. Notable names have been world famous boxer Mike Tyson, showing his support for digital assets. 50 Cent, an American hip-hop star, in 2018 revealed that he forgot he had a stash of bitcoins. Coins were paid to him for his fifth studio album Wild Ambitions when the rapper agreed to accept bitcoin payments. The bitcoin he got in 2014 at $ 662 was worth around $ 8 million when the rapper rediscovered it in 2018.

Related reading | Deloitte poll shows 76% of financial executives think physical money is coming to an end

Other notable names include Busta Rhymes. Mr. Rhymes first took an interest in the market in July. He had asked his Twitter followers what they thought of crypto, which caught the attention of notable names in the community such as Elon Musk and Michael Saylor. The rapper later tweeted confirming that he had entered crypto after doing his research and that he now holds bitcoin.

Why notable names matter

While most would say crypto doesn’t need big names to soar, the opposite is very true. The world we live in today is completely ruled by having information at our fingertips and with so much information reaching us at the same time people will ignore most things. But people will listen to eminent people.

Widespread crypto will be a faster process once people start to see their favorites entering it, which in turn tells their fans that the market is something they should be entering.

ETH price above $ 3,900 | Source: ETHUSD on TradingView.com

The 24 hours after Witherspoons’ announcement saw the price of Ethereum testing the resistance point of $ 4,000. Although the asset has taken a hit at this point, it has shown an upward rally which now places the asset in the $ 3,900 trading range.

Featured image from Bitcoin News, chart from TradingView.com

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