Who does not know Ellen DeGeneres, right? She got a liking for Bitcoin lately and made an attempt to explain the concept in her own way, live on the air.
Ellen DeGeneres has a popular TV shows that air almost 3 million viewers per episode. She spoke about Bitcoin for several minutes and she also went ahead to talk of its volatility. She explained in a totally Ellen style, “You’re probably thinking, ‘Ellen if I can’t physically touch it, where can I keep my bitcoin? In a digital purse?’ which is a funny idea but it’s kind of true.”
The hype in Bitcoin is such that many people are investing in it without having much knowledge of the basic principles as well, which is causing a lot of trouble to the businesses. A lack of education right now is a major problem amongst the investors.
Further, new users face a lot of technical issues and queries for which they reach out to the exchanges, and the workloads of addressing to every question become a tedious task due to the staff shortage.
Even Coinbase, at present being the largest US wallet provider in the US, issues a post on their HR practices as they faced a long criticism on not meeting the user’s expectations and answering to their queries in a timely manner.
Even though the description of Bitcoin by DeGeneres was basic, it still brings the point out of how wide is the distance between the segment that is into cryptocurrencies and the ones that do not interact with it at all. DeGeneres also said,
“I also found out Bitcoin works kind of like the stock market. Say you own one bitcoin and you bought it when it was worth $10,000 – and then for some reason Bitcoin becomes worth $20,000 – you just doubled your money… Basically, if you invest in Bitcoin you’ll either be a millionaire or you’ll be totally broke.”
The cryptocurrency world gave a positive response to DeGeneres’ explanation even though it was a basic one and did not provide any insight on how to bring out gains from it.
Ellen DeGeneres Explains Bitcoin to her viewers
What do you think of her efforts? Did it encourage you to invest?