Pop icon Mariah Carey now becomes the latest celebrity to embrace Bitcoin (BTC) through the Winklevoss-led Gemini crypto exchange. This news offers another sign that digital assets are becoming mainstream.
The Grammy Award-winning artist commented on Gemini exchange’s crypto education platform and then encouraged fans to learn something about investing.
In a video message that was published to her 10.2 million Instagram followers, Carey announced on October 19, 2021, that she has partnered with Gemini exchange to enhance Bitcoin adoption and, in turn, support girls of color in their pursuit of STEM degrees. STEM is a wide education category that refers to science, technology, engineering, and mathematics.
In this video, Carey said that she has already invested in Bitcoin through Gemini. She also gave her fans a referral code to redeem some $20 in free Bitcoin. She stated:
“Did you know you don’t need to buy a whole Bitcoin to invest? In fact, you can buy as little as $5.”
Carey also credited Cryptopedia, Gemini’s free education platform, for teaching her a lot about crypto investing. Any user who signs up using the referral link and starts trading on Gemini will have contributed directly to Black Girls Code, which is a non-profit organization that offers technology education for African-American girls.
While early cryptocurrency investors are considered to be ahead of their time for investing in Bitcoin before the major financial institutions came in, a huge segment of the market is majorly influenced by celebrity endorsements. In September 2021, a Morning Consult survey of 2,200 U.S. adults discovered that 45% of the crypto holders would seek some form of exposure to crypto in case it is endorsed by someone famous.
In recent months, celebrities have become highly influential in the nascent NFT space that has so far attracted billions of dollars in investments in 2021 alone. Despite the mysterious and murky hype, Vitalik Buterin thinks that celebrities can push the NFT industry toward socially relevant causes.