How effective is celebrity endorsement of Bitcoin?

Many people believe that electronic currency will have a broader development space. Bitcoin has greatly increased the speed of money transfer, which will bring changes to the world. But now some newly established Bitcoin companies are seeking strategies that can attract customers' attention, such as Pepsi Extreme and Tangerine Perfume Company. Some companies also use celebrity effects to promote their Bitcoin products.

Whether celebrity endorsements really work is up for debate. But a study by two researchers at Delhi University found that celebrity endorsements do boost purchasing power. Bitcoin has gained publicity. Data from Bloomberg News shows that the electronic item is trading at $230 this year, 50% lower than last year. Bitcoin companies hope that these celebrities can bring new developments to Bitcoin.

Tyson

A former boxer is endorsing a bitcoin ATM. The Mike Tyson ATM allows people to buy bitcoins using their mobile devices, according to the company. The company will install the first machine in Las Vegas on September 24. "Mike Tyson's fastest victory in the ring is 30 seconds, while the Mike Tyson ATM completes transactions in less than 20 seconds," the bitcoin company said in an ad.

Nas

Last year, a rap artist invited fans to participate in an online competition called the Nas Rap Contest. A Bitcoin company, Coinbase, identified Nas as an investor and promised to give 100 winners Bitcoin as a reward for their rap achievements.

Richard Branson

In May, Richard Branson, founder of the Virgin Group, hosted a four-day Blockchain Summit on Virgin’s own private island in the UK.

Ashton Kutcher

Ashton Kutcher, a long-time startup investor and actor who is also an investor in Bitpay, suggested in a reply to someone on Quora that people should put their money into Bitcoin. Kurcher once again recommended Bitcoin to everyone at the Techcrunch conference.

Richard Sherman

Last year, Seattle Seahawks' Richard Sherman announced on his Facebook page that his followers could use bitcoin to buy items in his company's online store. Bitpay, which also handles bitcoin transactions on its online store, also announced the news on Twitter. The spokesperson is a track and field athlete who called bitcoin "the currency of the future."