Did Richard Branson endorse Bitcoin Trader?

For most people in business, when they see or hear any business proposal involving business mogul Richard Branson, they’ll buy into it without thinking twice. When adverts claiming the billionaire had endorsed a few Bitcoin traders including Bitcoin Trader hit the internet, thousands invested in what was being sold without much thought.

As it turned out, the whole thing was a scam, meant to lure investors into signing up and investing in various Bitcoin trading tools.

But one question that is still lingering in the minds of many is whether Sir Branson indeed endorsed and invested in the platform as the adverts stated. Here’s our evaluation of the scheme.

Who is Richard Branson?

Sir Richard Charles Nicholas Branson is a British Philanthropist, author, investor, and business magnate born in 1950 in Blackheath, London. He is famed for establishing one of the world’s largest group of companies, Virgin Group, which runs more than 400 companies under its umbrella.

Right from a very tender age, the adventurous businessman expressed his desire to become an entrepreneur, launching his first venture, a magazine called Student,  at the age of 16. He would later establish a chain of record stores, Virgin Megastores in 1972.

His portfolio has since grown to hundreds of companies globally.

A 2020 private valuation placed Sir Branson’s fortune at a staggering 3.5 billion USD.

What is Bitcoin Trader?

Bitcoin trader is yet another auto-trading crypto application capable of buying, holding, and selling Bitcoin on behalf of traders without much participation. The bot promises substantial returns to its investors, after placing a minimum investment of £250. 

According to its website, the invention of their trading bot spares investors the agony of conducting hours of research and analysis regarding trades. With the robot, you are apparently only required to spend a few minutes of their time on the app daily and the system does the rest.

Some of the highest earners have pocketed daily profits in excess of £1,000 per day, according to Bitcoin Trader.

Is it true Sir Branson endorsed Bitcoin Trader?

If you’re a keen follower of the billionaire, you may have noticed how reserved he is about Bitcoin as an investment. As a matter of fact, he has been quoted time and again saying cryptocurrencies are “get-rich-quick-schemes”. 

We didn’t have to dig deep to realize that Sir Branson did not endorse the Bitcoin trader and has no interest in Bitcoin as an investment.

Why all the fuss around the story?

While some platforms have been publishing and airing the story to sensitize the public and bring to end the Bitcoin con games, there have been a few third-party marketers whose only interest is to the hype the story as much as possible while benefiting from the paid ads, clicks, and sign up commissions that come viral news.

We traced a number of the ads that talked about the alleged endorsement to gossip blogs and fake news sites. 

And while at it, our research indicates that neither Branson nor Bitcoin Trader personally posted the rumours. Scammers opened multiple fake sites and user accounts in to trick people into falling for the scam and benefit from commissions.

Is Bitcoin Trader legit?

Questions about the legitimacy of Bitcoin Trader have topped the list of concerns that many keep raising. We went online and tried to gather views of past and current users and put together a full review explaining whether or not you should trust Bitcoin Trader. You can read more about that here.