American Rapper Lil Baby On Holding Bitcoin And Ethereum Over Fiat

For years now, some investors have preferred to hold their wealth in cryptocurrencies like bitcoin and ethereum as opposed to cash. As cryptocurrencies become more popular, this school of thought has become more widely shared to the point where even billionaires and celebrities have publicly come out to say that they would rather hold their wealth in digital assets rather than fiat.

One of the latest celebrities to profess their support for bitcoin and ethereum is American rapper, Lil Baby. The rapper who rose to prominence in the last couple of years has said that he would rather hold his wealth in cryptocurrencies such as bitcoin and ethereum as opposed to holding cash.

Lil Baby Wants His Money In Bitcoin And Ethereum

American rapper Lil Baby was shopping on Icebox when he was asked about where he puts his money. The rapper is known to be a regular at the luxury jeweler with a running internet joke that people will “run into Lil Baby” when they visit the jeweler.

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While shopping, the rapper expressed his displeasure with cash. When asked what he would prefer to cash, Lil Baby explained that he would rather have all of his money in bitcoin and ethereum, the top 2 cryptocurrencies currently in the space.

Pointing to the bag of cash he brought with him to purchase jewelry, he said that was the last bit of cash he had. The rapper is known to drop thousands of dollars at a time for some ‘iced out’ jewelry, which has grown to be somewhat of a status symbol among famous people.

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Lil Baby also expressed his interest in the metaverse. He told the attendant that he didn’t live in the real world, living instead in the metaverse. As for cash, he said that he wasn’t carrying any more cash, stating “I ain’t walking around with cash no more.”

Celebrities Dive Into Cryptocurrencies

Lil Baby is not the first to show support for cryptocurrencies such as bitcoin and ethereum. Some might even say he’s a little late to the game. 50 Cent made headlines in the 2017/2018 bull market when he revealed that he had found 700 bitcoins generated from album sales which were then worth millions.

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Rapper Busta Rhymes showed interest in the market last year during the peak of the Dogecoin hype. After what seemed to be a rollercoaster of a learning curve, he had finally settled on investing in bitcoin, later revealing his intention to charge bitcoin for future deals.

Hip Hop star Megan Thee Stallion teamed up in August with Cash App to educate fans on cryptocurrencies. The partnership involved video tailored towards her fanbase, as well as a $1 million in bitcoin giveaway on the app.

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Actress Lindsay Lohan Makes Bullish Predictions for Bitcoin and Ether

Popular American actress Lindsay Lohan has joined the list of celebrities to talk about cryptocurrency, as the actress made bullish price predictions for Bitcoin and Ether in a promotional video.

Bitcoin and Ether Getting to New ATH

According to Forbes on Wednesday (Jan. 13, 2021), Lindsay Lohan made a promotional video predicting the prices of Bitcoin (BTC) and Ether (ETH). In the video Lohan forecast new all-time highs (ATH) for both major crypto assets, saying that Bitcoin would get to $100,000, while Ether would be at $10,000.

Part of the promotional video said:

“I’m just here to say that Ethereum is going to 10,000 and Bitcoin is going to 100,000. Enjoy a prosperous 2021 and I hope that you all get to drive your Lambos to the moon.”

While it seemed like the actress was bullish about the prices of the largest and second-largest cryptocurrencies, Lohan was just paid to make the predictions. The video was made via Cameo, a Chicago-based online video website. The platform enables fans to pay to get personalized video messages from their favorite celebrities. In Lohan’s, the actress was paid $350.

There have been recent bullish predictions about the flagship crypto. Max Keiser, Heisenberg Capital’s co-founder and host of Keiser Report, stated earlier in January his BTC price target for 2021 was $220,000. Pro-Bitcoin billionaire and venture capitalist Chamath Palihapitiya also predicted that BTC price would get to $200,000. JP Morgan strategists also said that Bitcoin could reach $146,000 in the long-term.

More Celebrities Show Interest in Bitcoin

Meanwhile, Lindsay Lohan joins the list of celebrities who have shilled bitcoin or even enquired about the cryptocurrency. The initial coin offering (ICO) era of 2017 saw many celebrities promote crypto projects that either never took off or failed.

However, some of these celebrities had to pay for promoting what turned out to be fraudulent ICOs. Popular personalities like former professional boxer Floyd Mayweather and DJ Khaled were charged by SEC for unlawfully promoting an ICO.

With the number of celebrities promoting ICOs at the time, the U.S. SEC had to warn investors at the time to be wary of celebrity-endorsed ICOs, as they did not guarantee the credibility of the project.

While the ICO craze is a thing of the past, 2020 saw celebrities talk about bitcoin. As BTCManager reported back in November, the Arya Start character in the popular HBO series Game of Thrones (GOT) Maisie Williams, asked her followers on Twitter if she should go long on bitcoin.

Also, American rapper Logic announced that he had purchased $6 million worth of BTC in October. Another celebrity, the Harry Potter writer J.K. Rowling, asked for an explanation about the number one crypto. Despite receiving a litany of “interesting” answers, the writer admitted that she did not still understand BTC.

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Kim Dotcom Faces Backlash From Bitcoin Community After Tweeting $3K BCH Prediction

As Bitcoin established a new all-time high on Dec 17 and smashing the $23K barrier, blockchain enthusiast and internet celebrity Kim Dotcom was quick to whip up controversy by claiming that Bitcoin Cash (BCH) will rise 850%+ from current figures to reach an astronomical price of $3000+. However, not everybody was happy to hear his statement.

The BCH Prediction Raised a lot of Eyebrows

In a tweet made on the same day, he declared that Bitcoin functions best as a store of value (SOV) while Bitcoin Cash was more suited for payments. 

However, Kim’s statement raised a lot of eyebrows, forcing him to face both acknowledgment and backlash from various individuals from the Bitcoin community. Some accused him of promoting a dead chain that doesn’t have much user activity and miner fees. The well-known Bitcoin maximalist Vijay Boyapati was quick to ask which ‘BCash’ Kim was referring to since there are allegedly ‘8 of them now’, a veiled reference to the recent BCH forking. 

Stephen Livera went one step further to saying Bitcoin Cash is irrelevant and Lightning Network will be sufficient to fulfill the payment requirements. 

Truthbobs, however, pointed out that support there isn’t much infrastructure support for the LN network, which means there’s a high chance of payments failing and that not many merchants currently accept it.

Kim Stands Firm Despite Criticisms

As it turns out, the Lightning Network has failed to accumulate significant TVL, even falling behind other entry-level DeFi protocols. It has also been plagued by significant issues, in which funds can be stolen through known exploits or settlement can fail to happen on the Bitcoin mainnet. But the LN isn’t the only crypto network that works extremely well as a means of payment. In fact, Tether consumes the highest number of gas fees on the Ethereum network for this very reason.

Some users also expressed their surprise at using volatile cryptocurrencies as a means of payment, when the stablecoins remains a better option for insuring against value fluctuations while conducting transactions. 

Bitcoin’s narrative as of late has moved towards being a digital gold or store of value rather than a mode of payments, which has been echoed even by senators and Bitcoin critiques. And this is likely the reason why the faster cheaper Bitcoin fork holds merit in Kim’s point of view.

“What do vendors and users want? Low fees, fast transactions, high security and ease of use. Vendors and users won’t hear or care about the tribal hysteria in the cryptoverse.”

However, it remains to be seen if Bitcoin Cash (BCH) could get the traction and usage it needs to reach the predicted price. 

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Lil Pump Is Doing a Social Token Called PumpCoin

“Gucci Gang” rapper Lil Pump is the latest celebrity to dip into the realm of social tokens with the listing of his “PumpCoin” on social money platform Fyooz.

The 20-year-old rapper appears to be following the Lil Yachty crypto playbook: a token sale on Fyooz and a subsequent non-fungible token (NFT) auction on the Winklevoss-owned Nifty Gateway.

Lil Pump, whose real name is Gazzy Garcia, is banking on his 25 million social media followers to take ownership of a “PumpCoin,” which, similar to a recent string of experiments with social tokens, will give fans exclusive access to the Colombian-American singer. 

“There has never been a greater need for artists and fans to find a new way of engaging given the lack of industry events from COVID-related shutdowns,” Remo Prinz, co-founder of the Zurich-based Fyooz, said in a statement. “Social tokens are a way for artists and other personalities to potentially monetize fan engagement.” Fyooz token sales are not open to U.S. investors.

The YachtyCoin sale last week raised at least $276,000 for the Atlanta-born rapper. Lil Yachty’s digital collectible sold for $16,050 this week to Bill Lee, a general partner at early-stage VC firm Craft Ventures who sniped the NFT from “bitcoin billionaire” Tyler Winklevoss at the last minute. 

This follows a trend of flashy NFT auctions by high-profile musicians. Canadian DJ Deadmau5 launched a series of digital collectibles this week, RAREZ, worth around $100,000. On Wednesday night, a piece of the collection named “In Titan’s Light” sold for 78 ETH ($50,039) on NFT platform SuperRare.



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Bitcoin (BTC) $ 38,773.39 2.65%
Ethereum (ETH) $ 2,094.69 1.52%
Litecoin (LTC) $ 71.67 3.12%
Bitcoin Cash (BCH) $ 225.67 1.75%