Mark Cuban, Jack Dorsey, and Elon Musk: Does the Future of Crypto Rely on These Figures?

There is a huge divide within the crypto community surrounding the issue of whether or not large celebrity figures like Mark Cuban, Jack Dorsey, and Elon Musk should be able to have such a large impact on crypto when so much is at stake.

Whatever your opinion may be on the topic, it is undeniable that celebrity figures are able to make substantial changes within the crypto industry, and on a whim, they could drastically raise or drop the price of any coin they want.

Of course, for investors or people looking into getting involved with crypto, this sounds like terrible news, and it does nothing but make an already-volatile market even more daunting.

However, this level of influence may not carry on into the future, and as crypto becomes more and more mainstream, we may begin to see said celebrity figures lose all their power.

In this article, we will be discussing whether or not huge celebrities figures like Mark Cuban, Jack Dorsey, and Elon Musk are going to be able to continue to influence crypto markets in the long term, as well as taking a look at what the future of crypto may look like.

The Massive Influence Celebrities Can Have

To say that celebrities do not have any influence over crypto markets would be outright untrue.

Celebrity culture has been known to affect crypto prices in ways both big and small, and to say that they are able to have a massive impact is not just a speculation, it’s a fact.

This can be somewhat unnerving to new investors or people who are just beginning to take their first steps into the world of crypto, and this is completely reasonable.

It is more than logical to be a little cautious before investing a sizeable chunk of your capital into the hottest new crypto coin when you know any celebrity could just come out and abolish the stock price, and this is why airing on the side of caution is always your best bet.

Sticking to the cryptocurrencies that are already well-established like bitcoin, dogecoin, and ethereum can help protect you from the terrors of celebrity influence, but in reality, it is just a part of the industry.

Stability Is Almost Guaranteed In The Long-Run

Due to the fact that crypto is almost guaranteed to become much bigger in the future, it is highly likely that an aura of stability will begin to shroud the markets within the near future.

There are a plethora of reasons as to why this is the case. From governments getting in and implementing a crypto tax to just more people getting involved, crypto markets are going to become much more stable in the future.

As things stand now, Elon Musk can write a tweet telling people to procure dogecoin and people will opt to do so in droves.

However, once crypto becomes more popular, this would be akin to someone telling their audience to go out and buy GBP or American dollars - it’s just not something you see happen.

In fact, the only reason why celebrities are able to impact crypto is that it has yet to achieve its full potential and is still extremely malleable, but as time goes forward, this isn’t going to remain the case.

It is almost certain that crypto will become more stable in the future, and if it isn’t, it would be highly unlikely that it would be set to become the dominant currency of the future as many people suspect.

Crypto Is Still In The Early Stages

As things stand today, crypto is still in its infancy.

Markets have not had the time to develop and mature, and this is why they have got a reputation for being somewhat volatile.

However, given just a little time, crypto markets will not be as crazy as they are today, and the potential for people to influence them will reduce drastically.

Once crypto comes to realise its true potential, markets will become much less volatile, and the times where people could influence the stock prices of certain coins will become a thing of the past.

It would be unreasonable to expect crypto to be stable in today’s current markets when you factor in the little time it has had to mature, and anyone who wishes that it was is wishing for something that is unobtainable.

So, to answer the question of whether or not large celebrity figures like Mark Cuban, Jack Dorsey, and Elon Musk are able to have an effect on the markets of crypto, as things stand right now, the answer is yes.

However, as things progress with crypto and as the markets come to stabilise more and more, the influence that all of said celebrities will have will exponentially reduce, and perhaps even outright disappear given enough time.

So, if you were interested in getting into crypto but were intimidated because of the influence people are able to have over the markets, don’t worry. In the long run, this isn’t going to make a difference.