Paris Hilton & Crypto: The Crowned Crypto Queen

Paris Hilton is a celebrity, socialite and businesswoman who gained popularity as part of the rich and famous “Hilton” family. She is also one of the most well-known public figures to advocate for crypto, investing in Bitcoin and ether back in 2016. In fact, she even named her dogs Crypto Hilton and Crypto Reum after her husband, Carter Reum!

Paris Hilton Has Invested In Crypto Since 2016

Paris Hilton has been making the news lately about many other things, but that shouldn’t take away from the fact that she has long been a proponent of crypto.

Back in 2016, she invested in Bitcoin and ether with a view to becoming an “investment banker” for cryptocurrencies.

Hilton asserts that she started investing in cryptocurrencies like Bitcoin and ether in 2016, but she won’t say how much money she has invested in this sector. The price of one Bitcoin was near $1,000 at the time, while the price of one ether was close to $10, as shown by information given by Coin Metrics.

In an interview that took place back in November with The Guardian, Hilton described how she got her start in the market for cryptocurrencies by becoming “friends” with the people who developed Ethereum (the decentralized computing platform that generates ether, the currency in which most NFTs are exchanged). Despite the recent selloff in the cryptocurrency market, during which Bitcoin and ether both lost more than half of their market value from their November all-time highs, Hilton is still confident about the future of the industry.

“I believe that digital currencies are going to have a resurgence,” Hilton continues. Now, I did what everyone else does, which is to say that I bought the dip.

Purchasing an asset after its price has dropped with the intention of profiting from an anticipated increase in its value in the future is referred to as “buying the dip.” The majority of financial experts recommend just investing the amount of money in cryptocurrencies that you can comfortably stand to lose. Ivory Johnson, a certified financial planner and the founder of Delancey Wealth Management in Washington, D.C., said on Monday that investors shouldn’t purchase merely because the price has reduced since it’s not a good investment strategy.

Paris Hilton Is Betting Big On NFTs And The Metaverse

After selling her very first NFT in March of the year in question with the intention of raising money for a charity, Hilton was awarded the trophy for “Best Charity NFT” at the NFT awards ceremony that took place in 2020. In April of 2021, her first line of NFTs, known as the “Iconic Crypto Queen,” was sold for a total of $1.1 million in ether. Since Hilton has stated that she owns more than 150 NFTs, it is quite evident that she is also a buyer.

The socialite has joined the NFT platform Origin Protocol as an investor and strategic advisor, where she will assist users in minting and selling their own NFTs and will also help users mint their own NFTs.

Hilton asserts that the act of creating artworks, particularly NFTs, has assisted her in regaining her health. She continues by saying, “I regard NFTs as the future of art,” stating that NFTs are better for artists than the traditional art market due to the large number of secondary sales that they create. She concludes by saying, “I view NFTs as the future of art.” In my opinion, it is a really positive step to take control of the situation and return it to its original designers.