YouTubers and cryptocurrencies: Should we be influenced?

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Investing in crypto assets comes with its own set of risks. BTC and most other crypto assets have been down so far in 2022.

What makes crypto investments even more risky are influencers talking about a specific cryptocurrency. For example, Tesla CEO Elon Musk recently tweeted about accepting Dogecoin as a form of cash for purchasing company merchandise. Such statements may lead a portion of retail investors to bet heavily on cryptos.

What Famous YouTubers Are Saying About Cryptos Let’s find out.

PewDiePie on Cryptocurrencies

PewDiePie’s channel was once the most subscribed on YouTube. Even today, PewDiePie has over 110 million subscribers, confirming its global reach. The Youtuber has become a household name, thanks to mainstream media coverage.

According to reports, PewDiePie promoted a game called Wallem in 2020. Wallem is said to have some blockchain features. The game harnesses the potential of augmented reality technology. In 2021, thanks to the metaverse, blockchain-based gaming cryptos have found many backers.

At some point in 2020, PewDiePie also allegedly mentioned Ethereum in one of his videos. A decentralized live streaming platform, DLive saw its user base grow when PewDiePie joined.

That said, PewDiePie did not discuss Bitcoin or any other crypto asset.

Read also: The “Crypto is for virgin” trend shines the spotlight on “virgin” Bitcoins

MrBeast and cryptos

MrBeast, the Youtuber famous for his expensive stunts, recently hit the headlines after launching the snack brand Feastables. The brand would have gaming features, in addition to chocolates in three flavors.

Although it’s just speculation at the moment, MrBeast’s chocolate-focused brand could become a gamified ecosystem. This may arouse the interest of metaverse enthusiasts. It was also recently reported that a fast food chain started by MrBeast tweeted about accepting Dogecoin, but if Elon Musk retweeted that tweet.

MrBeast also partnered with major crypto exchange Coinbase in 2021, which led to the promotion of at least three cryptos, including Dogecoin.

Read also: Is Crypto Dead and What Does Blockchain Hold in 2022?

Data provided by CoinMarketCap.com

Should I be influenced?

Cryptos are a debatable topic. A few personalities like investor Warren Buffett have been critical of cryptos, while others like Jack Dorsey have publicly expressed their fondness for Bitcoin.

All cryptocurrencies, regardless of high or low market capitalization, exhibited volatility. In 2022 so far, the entire crypto investment world is under immense pressure. It is advised that a decision to invest in these high-risk assets is not taken under the influence of a famous personality.

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