The central theses
- Celebrity fitness trainer Jillian Michaels posted her investment in cryptocurrency on Twitter today.
- Michaels says she holds Cardano (ADA) valued at $ 500,000 and Dogecoin (DOGE) valued at $ 10,000.
- Prominent endorsements for the cryptocurrency are on the rise.
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Celebrity fitness trainer and TV personality Jillian Michaels announced her investment in cryptocurrency on Twitter today.
Michaels holds over $ 500,000 in crypto
Michaels mentioned that she owns $ 10,000 worth of DOGE and put ADA worth $ 500,000 on the Cardano blockchain.
I don’t hate doges – I threw 10k on it for fun. I tossed Ada 500k and set it down.
– Jillian Michaels (@JillianMichaels) May 19, 2021
She advocated these cryptocurrencies in response to Shark Tank host Mark Cuban, who recently questioned Cardano’s merits and suggested that the coin has limited commercial uses at this time. “Can you personally use ADA for anything? … That’s the question I ask about all cryptography,” he recently stated on Twitter.
Instead, Cuban has repeatedly expressed its support for Dogecoin and even added it to the Dallas Mavericks store as a form of payment. Michaels has criticized his stance, stating that choosing “DOGE over ADA is like choosing a pornstar over Sophia Lauren”.
Even so, Michaels himself previously stated that he only had limited support for Dogecoin. She mentioned a “sizeable” Dogecoin investment in late April, but did not disclose the amount of that investment, other than the fact that its value had doubled.
I literally spent a sizable amount of money recently on a cryptocurrency that featured a dog in a meme – based on the advice of a 28 year old. And then … doubled with money. What kind of life is that? #DogeDay
– Jillian Michaels (@JillianMichaels) April 20, 2021
Michaels is best known for her work on the reality television series “The Biggest Loser” and various other series for NBC and CBS.
Cardano remains a top five coin
Both Cardano and Dogecoin have grown in value quickly. Cardano has gained 3,000% since the beginning of the year, making it one of the five best coins. Dogecoin has gained 15,700% since the beginning of the year and is now in 7th place.
Dogecoin has received numerous referrals from celebrities like Tesla CEO Elon Musk, KISS frontman Gene Simmons, and rapper Snoop Dogg. It has also found significant commercial acceptance: there are currently around 1,300 merchants accepting the DOGE cryptocurrency, according to Cryptwerk.
Meanwhile, Cardano has received very little approval outside of the crypto industry. It’s accepted in fewer than 200 stores, and Cardano inventor Charles Hoskinson insisted on lowering fees and ensuring security before ADA is widely used for payments.
If other celebrities besides Jillian Michaels support Cardano, it could help Cardano maintain its position until it gains traction.
Disclaimer: At the time of writing, this author held less than $ 75 in Bitcoin, Ethereum, and Altcoins.
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