Soulja Boy, one of the most celebrated rappers in America and beyond has released a new song titled ‘Bitcoin’. In the song, the hip-hop star brags making money from his Cryptocurrency investments. Soulja Boy has joined the list of other celebrities that are seeking association with the altcoins.
Soulja Boy Sings His Cryptocurrency Experience
Soulja Boy has released a new song about how he has accumulated wealth from his investment in the Cryptocurrencies. In the song titled ‘Bitcoin’, the singer says he has made 100 ‘racks’ in Bitcoin. A rack is the street name for $1,000 USD. In the chorus, the artist claims to have spent $6,000 on the digital asset. If this claim is true, Soulja Boy must have made huge profits if he sold the coins in December 2017 when Bitcoin recorded its highest price.
In the song, Soulja Boy also says how he transfers the virtual currencies on PayPal. Although PayPal does not support the altcoins, the artist may be talking about P2P trades which enables the users to send the Cryptocurrencies to other people.
Cryptocurrencies Attract More Celebrities
Soulja Boy is the latest among 10s of celebrities who are associating with the virtual currencies. Eminem, in his recent album titled ‘Kamikaze’ also gives some reference to the digital assets. Naomi van der Velde is now known for her song All About That Bitcoin”. The Dollar Vigilante and Freenauts are other music musicians who released “Bitcoin All The Way Up”. The list keeps growing every day.
The participation of celebrities in Cryptocurrencies is not restricted to releasing songs, some are launching their own coins. In March last year, Young Dirty announced plans to launch a new coin named Dirty Coin (ODB). A few months ago, Snoop Dogg, a prominent hip-hop artist was requested to perform at the XRP Community Night. Some of the other prominent individuals who have publicly embraced Cryptocurrencies are Bill Gates, Mike Tyson, and Ashton Kutcher among others.
Given the huge profits some Cryptocurrency investors have made in the past, celebrities have felt the need to join the sector and seize this opportunity. In the music industry, the virtual currencies are expected to boost the incomes of musicians from their work as they will be able to sell their music to more fans across the world. Furthermore, the use of blockchain technology and the digital assets can give them more control of their music.
The Entrance Of More Celebrities In Cryptocurrencies Beneficial
Despite the great potential of the virtual currencies and blockchain technology in reducing transactions costs, most people are still unaware of the new technology and its potential. Cryptocurrencies require some knowledge to operate and given that they are a product of new technology, many people do not know how to use them.
With more celebrities embracing the altcoins, more people will get a chance to know about the technology. When some artists sing about how they have made huge profits by investing in the virtual currencies, more people will be interested in learning about the innovation. Given the influence of these celebrities, most of their fans try to copy everything they do or recommend Cryptocurrencies included.