Bitcoin is shattering the financial industry as it keeps rising in value and power. 2020 was a fantastic year for this cryptocurrency and from what we can see, 2021 is set to be even better. As of mid-February, the price for 1 Bitcoin is close to $50,000, which is a mesmerizing value and a price that has never been reached before.
The number of investors in the cryptocurrency is counted in the millions and we do not doubt that the network will keep rising. Speaking of investors, we wanted to take a look at some famous people that are known to invest and/or own Bitcoin. Before we unveil them, let’s provide you with an answer to a very popular question – how do people earn and sell Bitcoins?
How Do You Make Money With Bitcoin?
You can earn Bitcoin by either mining it or buying it. Mining is a very complex process that requires you to solve various puzzles. By solving these puzzles, you are helping to verify are record every transaction made with Bitcoin. The reward for each solved puzzle is Bitcoins.
After you mine a certain number of Bitcoins, trading sites will provide you with the necessary information to make the highest possible profit. As you know, Bitcoin is a highly volatile cryptocurrency and its value changes often. Knowing when to sell them can make the difference between making a substantial profit and losing money.
That is why reputable trading platforms such as Bitcoin Prime UK use advanced algorithms which collect all the data on the market on Bitcoin and analyze it. In doing so, they are able to predict the future price of this cryptocurrency with great precision. That is the reason why this site has a huge daily profitability rate and thousands of registered users from all around the world.
Now that the process of earning and making a profit with Bitcoin is clear, let’s check out which celebrities have dived in this world.
Elon Musk and his company, Tesla Motors are the latest edition to the world of cryptocurrency/ Bitcoin. Recently, it was announced that the company has purchased $1.5 billion in Bitcoin, which is one of the biggest investments in the cryptocurrency in history. Not only that, but some reports suggest that Elon is planning on allowing people to buy cars with the cryptocurrency.
Logic is probably sitting on a mountain full of cash these days. Just before Bitcoin started surging in 2020, he announced that he will invest $6 million in the currency as he believed that it is a smart investment and one that can bring him a fortune. Critics and the so-called experts doubted him, but as it turns out, he was right. At the time when Logic invested in Bitcoin, the value for it was little above $10,000, so you can only imagine how big of a profit he must’ve made.
Next up, we have Uncle Snoop, one of the most iconic rappers on the planet. Back in 2013, when Snoop was set to release Reincarnated, his first reggae album, he stated that he will accept Bitcoin as a payment method for it. Some fans purchased the album with the cryptocurrency, but he’s been silent about it ever since, so we cannot determine how big of a profit he made. What we do know is that the cost for the album was set at 0.3 Bitcoins.
Many other celebrities are connected with this cryptocurrency. Some of them are 50 Cent, Paris Hilton, Gwyneth Paltrow, Bill Gates, Serena Williams, Floyd Mayweather, Kanye West, and Mike Tyson. There are no details about their investments, but we are sure that they made a profit with it.