Public awareness is a highly sought-after commodity among cryptocurrencies, since it has the ability to influence markets. Bitcoin just got another piece with a mention of celebrity in Eminem's new album.
Bitcoin gets mention of celebrity
Cryptocurrency Pioneer, Bitcoin (BTC) continues to enjoy the domain with a new traditional mention of the American rapper Ryan Daniel Montgomery, better known as Royce Da 5 & # 39; 9,
Forbes reported on August 31 that the American rapper mentioned Bitcoin in a track of Eminem's new album "Kamikaze".
Kamikaze is Eminem's tenth album released just eight months after his last complete project, Revival, and announced the launch of the new album in a tweet on Friday, August 31, without previous promotion.
The biggest cryptocurrency was mentioned in "Not Alike", the ninth track on the new album. In the song, Royce Da 5 & # 39; s & # 39; s:
"Remember that everyone used to bite Nickel, now everyone makes bitcoins."
Impact of the mention
Since the birth of cryptocurrencies, scammers have devised ways to use revolutionary technology to carry out their activities due to the anonymous nature of digital resources.
Cryptocurrencies have been used for harmful activities, with most of the traditional portraits the following seed. In the American drama-comedy Dope, the main character sells online drugs using Bitcoin.
Because of the wrong representation of cryptocurrencies, they have been seen as a threat in some countries, leading to the absolute ban in some parts of the world. However, the mention in Not Alike paints a completely different picture.
Forbes describes the rather simple line as an important sign of the presence of Bitcoin in mass culture, noting further that cryptocurrency has a number of use cases beyond the criminal as it is commonly described.
Forbes wrote in his report:
"The mention on the Eminem album is significant, however, since it suggests not a rich scheme of enrichments, nor a way to sell illicit goods online, but rather something that "all [is] doing" – that it is common to know that it bites the metal coin to test its quality. "
Bitcoin and public awareness
Public opinion has played an important role in the success of Bitcoin the last year when the currency rose from $ 1,000 at the start of the year up to nearly $ 20,000.
The political advisor of the Dutch National Bank and economist Joost Van Der Burgt, a, found through research that the price movements of Bitcoin very closely align the searches on Google.
According to Van Der, as the awareness of Bitcoin and other cryptocurrencies increased, prices would increase, which means that there is still plenty of room for the growth of the nascent industry. Van Der Burgt said:
"If the buzz is everywhere, it does not matter exactly what it is … NOBODY wants to miss it and everyone tries to get a piece of it."
In an interview, Van Der told CNBC that the correlation between Google's research on Bitcoin and price growth was almost a "perfect match" until the end of 2017.
The cryptocurrencies have received the much needed popular awareness, recently, hip-hop artist, Young Dirty Bastard announced the launch of his cryptocurrency.
In the last two months, the cryptocurrency industry has seen an increase in the interest not only of celebrities but also of institutional investors.