Renowned American rapper Busta Rhymes mulls investing in crypto

By: Jinia Shawdagor
Jinia Shawdagor
Jinia is a cryptocurrency and blockchain enthusiast based in Sweden. She loves everything positive, travelling, and extracting joy and… read more.
on Jul 15, 2021
  • Busta Rhymeasked his followers what they think of crypto and if they have investments in the space.
  • The rapper asked which cryptocurrencies would make the best investments at the moment.
  • Should he proceed to invest in crypto, Busta Rhymes will join the likes of R&B singer Akon.

Trevor George Smith Jr, professionally known as Busta Rhymes, is contemplating investing in the crypto space. A report unveiled this news earlier today, noting that the rapper asked his 3.8 million Twitter followers if they had invested in crypto. Reportedly, he also asked them to share their opinions on the current performance of the rapidly expanding asset class.

According to the report, the rapper, who has received multiple Grammy Award nominations without a win, got numerous responses, with most of his fans urging him to invest. However, the musician asked which token he should buy into.

Are you looking for fast-news, hot-tips and market analysis? Sign-up for the Invezz newsletter, today.

One follower suggested that he should invest in the Moonrise token (MOONRISE), claiming that the coin had risen by up to 100x since its debut. Another follower vouched for the FEG token (FEG), saying it is ideal for long-term investments. In response, Busta Rhymes asked what uses cases the tokens had.

https://twitter.com/SnizzyOnTheBeat/status/1415380222627700741

Another fan told him that the crypto market is currently down because institutions are over-leveraged and that a correction might happen soon. This follower also disclosed that he holds BTC, ETH, and DOGE.

When Busta Rhymes asked whether it is a good time to buy crypto, a follower going by the name DoonMoon said yes. However, DoonMoon cautioned that the rapper should only start with BTC if he has zero knowledge in crypto. He then advised Busta Rhymes to read the Bitcoin Standard by Saifedean Ammous and The Price of Tomorrow by Jeff Booth before purchasing more Bitcoin (BTC/USD).

Musicians continue embracing the nascent sector

This news comes as big names in the crypto space continue embracing cryptocurrencies. Over the years, figures such as Snoop Dogg, Nas, Soulja Boy, Eminem, Nas, Sia, and Maria Carrey, among others, have interacted with cryptocurrencies in various ways.

Apart from crypto, the music industry has been keen on embracing the non-fungible token space, with names such as Kings of Leon, Tory Lanes, and even relatively new figures such as Lil Pump issuing tokenizing their music.

However, the most notable musician to enter the crypto space is Akon, who seeks to build a $6 billion (£4.33 billion) crypto-themed city in Senegal. Reportedly, this futuristic city will use the Akoin digital currency (AKN), which currently has a capitalization of more than $80 million (£57.75 million).

Invest in crypto, stocks, ETFs & more in minutes with our preferred broker, eToro
10/10
67% of retail CFD accounts lose money