Bitcoin Exposed to Millions
Over the past few months, Bitcoin (BTC) has slowly entered back into the mainstream consciousness. Mainstream media outlets are covering this budding space once again; and consumers, mom & pop investors, and their ilk have begun to eye crypto assets after 2018’s brutal collapse.
This was perfectly encapsulated in a recent episode of “Off The Pill” podcast by Ryan Higa, an American social media star that became popular on Youtube earlier this decade. Over the course of his career, he has amassed over 20 million subscribers on the Google-owned video sharing platform, and millions of followers on both Instagram and Twitter.
In this recent installment of his podcast (which has over 220,000 views at press time), he brought on Michelle Phan, one of his Youtuber peers that also happens to be a proponent of Bitcoin and cryptocurrency.
She didn’t exactly hold back with her bullish thoughts on this nascent asset class, dedicating a whole portion of the interview to talking about why she is bullish on BTC in particular and how “magical internet money” really works.
Asked by Higa about what makes Bitcoin such a good investment, Phan, who heads a cosmetics company valued at nearly $1 billion on top of her Youtube channel, immediately looked to the asset’s scarcity. Likening BTC to gold, she explains that the difficulty of mining is the process that gives the asset much of its value, which is partially true.
She went on to draw attention to Bitcoin’s hard supply cap of 21 million coins and even touched on the fact that many of said coins are already lost. During the segment, she also tried to give more information on how Bitcoin works.
While the video hasn’t been seen by many people yet, this mention has some fundamental importance. You see, as reported by Ethereum World News previously, many in what is known as “Generation Z” (those currently around 13 to 22) aren’t all too excited about cryptocurrency, despite what some reports suggest. With many of Higa’s and Phan’s fans fitting into a younger demographic, this segment may help to bring an understanding of Bitcoin and its ilk to Generation Z, which many in the industry hope will be the generation of mainstream crypto adoption.
Crypto Back in the Limelight
As mentioned, this comes hot on the heels of dramatically increased mainstream coverage of Bitcoin. Here’s a case in point: in a recent Bloomberg article, Tyler Cowen gave four reasons why he believes Bitcoin will succeed, which caught many aback, as he was previously cynical that BTC was needed. A number of those reasons mentioned Bitcoin’s viability as a hedge against populism and geopolitical unrest.
Photo by Christian Wiediger on Unsplash
