In 2017, Nipsey Hussle, an early Bitcoin advocate and investor, publicly reinforced his commitment to cryptocurrency by acquiring a stake in Follow Coin, an Amsterdam-based crypto startup.
Nipsey Hussle's involvement highlights his emphasis on educating retail audiences about cryptocurrency's potential, reflecting broader cultural shifts and interest in decentralized finance.
Details of the Investment
In 2017, Nipsey Hussle became a part-owner of Follow Coin, a crypto startup aimed at guiding retail investors. Known for his Bitcoin advocacy since 2013, he publicly emphasized the growth potential of Bitcoin, Ethereum, and Litecoin. Nipsey Hussle stated, "Seeing what happened with Bitcoin, Ethereum, LiteCoin and the whole category is confirmation for a lot of the things that we were suspecting. I didn't think Bitcoin was gonna explode that fast."
Nipsey's involvement highlighted his commitment to educating communities about cryptocurrencies. He invested in the Amsterdam-based Follow Coin, endorsing its mission to simplify crypto market participation for novice investors.
Cultural Impact and Market Signals
Nipsey’s advocacy had a cultural impact, particularly within hip-hop audiences, but there is no primary evidence of a direct market influence. His investment signaled a growing trend of celebrities entering the blockchain space. The startup's approach aimed to lower barriers for crypto investments, promoting engagement without needing technical expertise. Nipsey’s perspective emphasized the independence of cryptocurrencies from traditional banking systems.
Market Context and Influence
Market interest in cryptocurrencies surged during 2017, concurrent with an increase in celebrity endorsements. Nipsey’s participation provided visibility for Follow Coin but lacked significant regulatory or institutional attention. As large as Nipsey’s cultural influence was, it did not result in financial metrics changes such as price spikes or liquidity shifts in related cryptocurrencies. His focus on Bitcoin as a peer-to-peer currency remains relevant.