Rapper Busta Rhymes is Officially Holding Bitcoin, Eyeing ETH Next

Divya  |  Jul 23, 2021

Rapper Busta Rhymes has officially joined the celebrity crypto circle. On Thursday, the artist revealed that he is holding the largest cryptocurrency by market cap after watching a discussion featuring Tesla and Space X CEO Elon Musk and Twitter and Square CEO Jack Dorsey.

Busta Rhymes Credits Elon Musk and Jack Dorsey for Bitcoin Investment

In a tweet shared on July 22, artist Busta Rhymes (real name Trevor Smith Jr.) announced that he has already invested in Bitcoin and is looking into Ethereum (ETH) next. Rhymes pulled the trigger on his first crypto investment after “watching the Bitcoin conference live”. The event he’s referring to is  “The B Word”, a conference organized by the Crypto Council for Innovation. 

Shortly after the event Rhymes wrote that he was sold on the idea of cryptocurrencies. He later added, “When you have brilliant minds coming together through an unfiltered source. I like that. Speaks directly to me. They all are using it and more importantly holding it.”

 

 

The artist first mentioned cryptos on his Twitter account on July 14. At the time, he asked his followers about their crypto involvement and how they felt about it. Following that, he engaged with boxer Mike Tyson about his experience in the crypto market. Jack Dorsey and MicroStrategy CEO Michael Saylor also popped up on his timeline and pointed him to educational resources and other helpful advice.

Following a panel discussion between ARK Invest co-founder and CEO Cathie Wood, Dorsey, and Musk, Rhymes decided to throw his support behind Bitcoin. But he doesn’t intend to stop there as he’s also eyeing Ethereum, the second-largest cryptocurrency by market capitalization.

Elon Musk Discloses His Crypto Holdings at The B Word

“The B Word” conference was a much-anticipated streaming event. For many, it was an opportunity to see Dorsey and Musk discuss cryptocurrencies side by side despite their different views on Bitcoin. Viewers were even wondering if the discussion would devolve into a hotly contested debate.

However, the conference remained largely civil with all participants focusing on Bitcoin’s appeal and issues surrounding it. Dorsey championed the pioneer cryptocurrency for its potential to bring “world peace,” whereas Wood underscored the reasons that made the asset a great investment instrument. Musk delved deeper into Tesla’s decision to suspend Bitcoin transactions after investing a whopping $1.5 billion in the currency earlier in 2021. He also indicated that  Tesla will resume Bitcoin payments once the network moves sufficiently towards renewable energy.

In a first, Musk also disclosed that Space X has invested in Bitcoin and he personally holds Dogecoin and Ethereum -- the former not surprising anyone due to his repeated advocacy for the DOGE network and his engagement with its developers.

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