Actress Lindsay Lohan has made a video in which she predicts Bitcoin will go to $100,000. The clip was created through a new endorsement service called “Cameo”.
This week in crypto has been a wild ride, or as crypto-lovers call it, “Monday”. Bitcoin was down 25% (and a few hundred billion dollars) and back up in just days. It is hard to agree on where the price will go next. Sentiment seems to be pointed “up”.
Actress Lindsay Lohan has her own prediction. In a promotional video, Lohan says that Ethereum (ETH) is going to $10,000. Bitcoin (BTC) is going to $100,000. This will happen, the Parent Trap star says, on the way to the moon (we will be driving Lamborghinis there).
“I’m just here to say that Ethereum is going to $10,000 and Bitcoin is going to $100,000. Enjoy a prosperous 2021 and I hope you all get to drive your Lambos to the moon.”
The video, which was recorded as a paid celebrity endorsement, was made through Cameo. This site allows influencers and celebrities to charge for short videos promoting their products.
According to sources, Ms. Lohan’s services cost $350 for the 12 second video (that’s $105,000 an hour, but who’s counting?). She has apparently since raised her prices to $415.
The actress did not reveal in the video if she owns any cryptocurrency. It is also not clear how much she is involved in the crypto community. Indeed, she tripped over the pronounciation of the word “lambos”.
Ms. Lohan’s venture into crypto promotion is reminiscent of the many celebrities who got on board with ICOs in 2017. This includes DJ Khaled and Floyd Mayweather, who were charged in 2018 over touting a scammy crypto-backed payment card.
Likewise, 2019 saw an uptick in fake celebrity crypto endorsements. Celebrities, who felt their reputation had been tarnished, were left with a bad taste in their mouths from crypto.
Financial celebrities such as Jim Cramer, however, came on board with crypto in 2020. Since the crypto space has matured from the era of ICOs, more celebrities might legitimately tout crypto.
Not so outlandish
Then there’s the matter of Lohan’s price prediction. $100,000 seems like a nice round number, but with Bitcoin tripling in just a couple of months, the market is heated up. As of writing, Bitcoin is hovering around $39,500.
Indeed, aside from media attention and price action, and in addition to institutional support, there is more good news on the political front. The future chief of the SEC has taught blockchain at MIT, and the Comptroller of the Currency suggested that DeFi could be the future of banks.
Bitcoin’s price has doubled quickly before, and in very recent memory. A 1.5x to $100,000 does not seem that far out of reach.