If mass adoption of cryptocurrency comes through retail awareness, then a step forward was made on Monday when Goop, the lifestyle brand started by Gwyneth Paltrow, published a how-to guide on Bitcoin (BTC).
— Gwyneth Paltrow (@GwynethPaltrow) November 5, 2018
While the majority of Barhydt’s answers were focused on Bitcoin, he does briefly break down a few major altcoins for readers.
“There are thousands of cryptocurrencies, and more are being developed and launched every day. Some cryptocurrencies are versions of the Bitcoin blockchain that are trying to solve for other issues. Litecoin, for example, is designed to enable faster and cheaper transactions, while a coin like Dash is designed with additional privacy in mind,” said Barhydt.
Barhydt emphasized that the fundamentals of crypto investing are equivalent to those of regular equity investing, and recommended that Goop readers start off by buying $10 worth of Bitcoin. Of course, he also used that opportunity to plug his company’s app.
While Goop is renowned for giving questionable medical advice, bringing on an industry expert to clearly articulate the intricacy of digital currency investing was a solid attempt to actually educate readers on an emerging asset class. And, if Goop’s readers are as eager to dive into a risky investment as they are to test vaginal eggs, the article may spur some adoption.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.