Gwyneth Paltrow joins the list of celebrities promoting cryptocurrency

November 07, 2018
Darya Karatkevich

Following in the footsteps of rapper DJ Khaled, professional boxer Floyd Mayweather and other celebrities actively supporting or using crypto, Gwyneth Paltrow has become the latest celebrity to promote cryptocurrency.

Paltrow Abra

Paltrow, the founder of controversial lifestyle brand Goop, recently tweeted a Q&A with Bill Barhydt, the founder of Abra, a mobile-focused exchange-wallet that allows users access to more than 25 different cryptos, and a variety of tokens such as OmiseGo.

In “The Basics of Bitcoin and Cryptocurrency – and How to Invest”, currently available on the Goop website, Barhydt answers questions concerning bitcoin’s history, how to acquire cryptocurrencies, its various forms, blockchains, and a variety of other common questions for new investors.

Barhydt also answers questions associated with cryptocurrencies and their value using the USD as an example saying,

“Ultimately, anything has value because people agree that it has value. Government-issued money, such as the US dollar, has value because we all agree that it does, mostly because our government accepts payments of tax debts only in its own money.”

Barhydt then goes on to highlight the general uses of cryptocurrencies but also describes an interesting take on future uses in poorer regions to lease expensive appliances such as “washing machines, refrigerators, televisions, etc.” by the buyer simply forwarding “a small amount of bitcoin every week to the wallet of the seller” which in turn enables “the appliance to function.” It’s a very interesting take on the value of cryptocurrencies on a global scale.

The cryptocurrency market is constantly expanding, and Goop as a lifestyle brand has recognized the importance of cryptocurrencies for its customer base. By promoting and explaining an approachable application like Abra, Goop is taking a great first step in educating its readers and allowing them to venture into the cryptocurrency world.

Post written by Darya Karatkevich
Darya is a blockchain market observer with 5+ years of experience as an author and editor for major tech blogging platforms. Her fortes are blockchain technologies and solutions, cryptocurrencies and crypto-related regulations.

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