Ethereum (CRYPTO: ETH) has gained a new backer and it is the “Legally Blonde” fame actress Reese Witherspoon, and Twitteratis have a lot to say.
What Happened: Witherspoon announced on Thursday that she had purchased her first-ever ETH.
See Also: How To Buy Ethereum (ETH)
Just bought my first ETH! Let’s do this #cryptotwitter
— Reese Witherspoon (@ReeseW) September 2, 2021
Youtuber, social media star, and boxer Logan Paul responded by offering Witherspoon a non fungible token or NFT from the World of Women collection. The project behind the collection aims to foster diversity in the NFT space.
— Logan Paul (@LoganPaul) September 3, 2021
The actor’s purchase of her first ETH did not go unnoticed by Bitcoiners, who expounded on the merits of their favorite coin.
Have you heard of #Bitcoin? It’s a better store of value than ETH for lots of various reasons. I won’t bore you with them, except saying that zero nations have adopted ETH and here in 5 days we’ll have one nation adopting BTC. #ElSalvador
— Derek Ross (@derekmross) September 3, 2021
Hey @ReeseW in case you didn’t know when the founders started eth they kept 70% for themselves. Think of it like a tech company. #bitcoin however, the founders kept nothing and it’s actual fair sound money empowering humanity and way more important than any tech company.
— Mark Ioli (@mark_ioli) September 3, 2021
Cryptocurrency analyst Kaleo and Bitcoin (CRYPTO: BTC) investor Lark Davis were among the people who welcomed Witherspoon’s first step into cryptocurrency.
WELCOME TO THE BIG LEAGUES
— K A L E O (@CryptoKaleo) September 2, 2021
Welcome to the party
— Lark Davis (@TheCryptoLark) September 2, 2021
Adherents of Dogecoin (CRYPTO: DOGE), a Shiba Inu-themed cryptocurrency, also pitched their coin at Witherspoon. Dogecoin co-creator Billy Markus said in a Tweet that he liked the 1999 film “Election.”
— MichaelSB (@spacebucks777) September 2, 2021
Come get a cute puppy!! pic.twitter.com/Zd5BYd6N0x
— The Doge Pound (@TheDogePoundNFT) September 3, 2021
Why It Matters: Ethereum has soared 20.84% in the last seven days. Since the year began, the cryptocurrency co-founded by Vitalik Buterin has shot up 416.33%. At press time, ETH traded 0.27% higher at $3,770.34 over 24 hours.
A lot of appreciation in Ethereum lately has been due to the NFT buzz, a space that is dominated by Ethereum. The cryptocurrency has also received a push thanks to the DeFi and DApp segments.
Ethereum’s smart contract capability, DeFi potential, upcoming shift to a proof-of-stake model, and speed and scalability are just some of the reasons that the six-year-old cryptocurrency is thought to have an intrinsic value.
Cryptocurrencies have attracted all manner of celebrities in recent years. SpaceX and Tesla Inc (NASDAQ:TSLA) CEO Elon Musk, Dallas Mavericks and “Shark Tank” fame Mark Cuban, Rapper Snoop Dogg, “Game of Thrones” actor Maisie Williams are just some of the few that have recently been discussing digital money.
Photo: By David Torcivia on Flickr