Remember when Matt Damon told you, “Fortune favors the brave”?
Well, Twitter TWTR,
users do, and many of them are mentioning Crypto.com’s viral ad, while prices of cryptocurrencies like bitcoin BTCUSD,
and ether ETHUSD,
are going down, and crypto exchange platforms like Coinbase COIN,
they are losing billions in market cap.
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The commercial, which debuted on October 28, 2021 and was played again during the Super Bowl, has now been viewed 9 million times on Twitter and more than 17 million times on YouTube.
“I’ve never done a sponsorship like this,” Damon, who is also a Crypto.com investor, said when the commercial premiered. He also told Bloomberg that he’s ready to “ride or die with the economy,” but he’s also not quitting his day job making movies.
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Unfortunately, if you had bought $1000 worth of bitcoins when the commercial debuted, its crypto value would be around $481 today.
Meanwhile, that same $1000 worth of ether would now be worth $477.
Obviously, the commercial likely had little to no impact on the crypto markets, and October represents an arbitrary starting point for any crypto-related price chart, as bitcoin and ether prices have more than tripled in the last 24 months. .
However, it is worth noting that 40% of people who own bitcoin are upside down on that investment, according to a recent CNBC report.
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Bitcoin prices rose 5.2% on Thursday, recovering from a tumultuous week. Ether prices fell 1.09% during trading on Thursday.