When it comes to cryptos, I’m a huge believer in Economics of influence. In fact, I believe in the power of influencers, period.
After all, we live in a world dominated by social media. In this world, we spend two and a half hours every day on Facebook, Snapchat, Instagram, Twitter, TikTok, etc. media.
Social media today is more than a place where we connect with friends. It was social media 1.0 – social media from the early 2010s.
Now we are completely immersed in the social media era 2.0. At this time, we are watching funny cat videos on social media. We follow our favorite celebrities. We reluctantly watch status updates from our exes. We read the news. We get food, restaurant, movie and product recommendations. We are looking for health and fitness advice. We sell stuff. We buy stuff. We are developing our businesses. To find?
We use social media for everything these days.
But we also don’t trust social media companies or the businesses that advertise with them. It’s a strange dichotomy. We love platforms. We use the platforms. All the time. For everything. But we hate the companies that run these platforms.
So what do we do? Well we put our trust in people to platforms, not the ones behind the platforms, as this allows us to benefit from the value propositions of social media while maintaining our individuality and independence of thought.
The result? People who are extremely popular on social media platforms – aka influencers – have enormous influence. They are a huge driving force in consumer behavior.
When pop star Justin Bieber told his followers to go buy Crocs shoes in 2020, that’s exactly what they did, and it sparked a Crocs fashion frenzy that hasn’t faded yet. . Crocs (CROX) the stock has risen almost 250% in the past year.
When NBA superstar Kyrie Irving and a handful of NBA players started promoting Beyond Meat products in 2019, their supporters started buying plant-based meat. Beyond meat (PARND) the stock has risen almost 5 times since its IPO in 2019.
When artist Kanye West teamed up with Adidas in 2015 and started designing shoes for the sportswear brand (which he later promoted on social media), his followers rushed to buy the shoes. Yeezy shoes. Since, Adidas (ADDYY) the stock has increased by more than 350%.
Get the point? I have seen it time and time again. Influencers influence consumer behavior. Consumer behavior determines income. Profits determine the price of shares. Thus, by the law of transitivity, influencers determine the price of shares.
This is partly why I’m so bullish on cryptocurrencies over the next few years. Have you seen all the influencers jump into the crypto craze lately?
How celebrities are embracing the crypto markets
Tech icon Elon Musk is an avid cryptocurrency bull, who continually voices his opinion on Twitter that cryptos will replace fiat currencies.
NBA superstar Steph Curry just announced a partnership with crypto platform FTX after asking his Twitter followers about cryptos.
NFL superstar Tom Brady is a big fan of crypto. His teammate, Rob Gronkowski, has just signed as a brand ambassador for the Voyager Digital crypto brokerage.
Global football icon Lionel Messi has just launched his first collection of NFT tokens, dubbed the “Messiverse”.
Reality TV star Kim Kardashian promoted the Ethereum Max token in an Instagram post in June.
Actress Reese Witherspoon posted on her Twitter just days ago that she bought her first batch of Ethereum. On the same day, Paris Hilton took to Twitter to say she loved Bitcoin.
Boxing legend Manny Pacquiao just launched an NFT collection on Ethernity. Tech billionaire Mark Cuban, Game of Thrones star Maisie Williams and hip-hop icon Snoop Dogg are also on the crypto train.
The fact is that celebrity culture has fully embraced the cryptocurrency revolution.
It’s big. Because it means some of the most influential people in the world are telling their tens of millions of social media followers to embrace crypto. Naturally, this will lead to increased adoption of blockchain products and services, and the increased adoption of these solutions will ultimately drive the long-term price trajectory of cryptos.
As adoption increases, crypto prices will tend to rise.
At present, adoption is soaring, because celebrity culture threw its weight behind the crypto revolution. What happens next? A great rally of cryptocurrencies.
There is, however, a “dangerous” side to this celebrity rally in crypto, and that is that these celebrities often don’t know the difference between a “good” crypto and a “bad” crypto, that is – that is, if you listen exclusively to celebrities, you might find yourself holding the bag on crypto that is losing 50% or more of its value – while “good” cryptos are skyrocketing by several hundred percent …
Most we know this difference.
In short, I’ve assembled a team of blockchain experts, including teaming up with legendary first Bitcoin investor Charlie Shrem. Together, we have studied the cryptocurrency markets from top to bottom. During this process, we discovered that each cryptocurrency has a unique ‘code’ – a unique set of critical metrics that determine a crypto’s validity and likelihood of success.
We have developed a reliable quantitative system to crack this code, for each crypto, so that we can identify the best cryptos on the market before they skyrocket by thousands of percent.
And it’s not all hot air. It is a proven system that has helped create a breathtaking crypto wallet 760%.
Wednesday evening September 15 at 7 p.m. Eastern, Charlie and I are going to sit down and reveal this game-changing cryptocurrency investment scheme on our very first Cryptographic code event.
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At the time of publication, Luke Lango had (directly or indirectly) no position in any of the stocks mentioned in this article.