Matt Damon Bitcoin Investments

Advertisements are accustomed to forceful sales. Few, however, are as bold as this one, which claims that simply clicking on Crypto.com – a software that allows you to trade Bitcoin and other digital currencies as well as NFTs — is akin to creating an airplane. The commercial debuted in October and became popular online in previous weeks, gaining the kind of attention reserved for particularly egregious examples of (to use the conventional term) cringe.

Commentators criticized Damon’s “zombie-like” appearance in the press and on social media, calling the commercial “shameless” for hinting that greatness awaits those brave enough to risk their savings in an unregulated, risky market.

Many people may find the advertisement puzzling. Most individuals are unfamiliar with cryptocurrency and have likely never heard of Crypto.com. The Singapore-based startup, which launched under the name Monaco in 2016, claims to have 10 million users and predicts that figure will rise to 100 million by 2023.

Who Is Matt Damon?

Matt Damon, full name Matthew Paige Damon, is an American actor, screenwriter, and producer who was known for his hygienic good looks and cerebral performances. He was born on October 8, 1970, in Cambridge, Massachusetts, United States. As for Good Will Hunting, he received an Academy Award for Best Original Screenplay (1997).

Damon was born and raised in Cambridge, Massachusetts, where he studied acting at the Cambridge Rindge and Latin School. He won a small role in Mystic Pizza (1988) when he was 18 years old and enrolled at Harvard University as an English major.

Furthermore, he dropped out of Harvard just 12 credits short of graduation after performing in the television movie Rising Son (1990). His outstanding appearance as a young soldier forced to testify about combat during the Persian Gulf War in Courage Under Fire was preceded by roles in School Ties (1992) and Geronimo: An American Legend (1993).

This depiction caught the eye of director Francis Ford Coppola, who cast Damon opposite Danny DeVito in The Rainmaker as a beginner lawyer.

Matt Damon Cryptocurrency Investments

Celebrities have been climbing on the cryptocurrency bandwagon for years, but it wasn’t until last fall that they started acting in high-profile marketing campaigns promoting cryptocurrency exchange companies.

When the commercial first aired, Damon, who is also a Crypto.com investor, remarked, “I’ve never done an endorsement like this.” He also told Bloomberg that he’s prepared to “ride or die” with the economy, but that he won’t give up his day job as a film director. (MarketWatch)

There isn’t much information on Matt Damon and his cryptocurrency investments, all we know is that he is, in fact, an investor.

Actor Matt Damon will be the face of Crypto.com, which aims to attract new users and move the cryptocurrency business into the mainstream. (Forbes)

This is Crypto.com’s first global marketing drive, which has seen its user base more than tenfold since last year as interest in cryptocurrencies like Bitcoin has surged. It will spend more than $100 million on the campaign, which will include spots featuring Damon and directed by cinematographer Wally Pfister.

The “Martian” actor is being mocked on Twitter over a now-famous 60-second TV ad that encouraged people to invest in cryptocurrency during NFL playoff games and the Super Bowl earlier this year. Damon praised crypto investing as the next great human achievement, comparing it to the Wright Brothers’ invention of human flight or astronauts landing on the moon.

Matt Damon Investment Companies and Stocks

Matt Damon is an investor in Crypto.com, which has made a $1 million investment in his non-profit Water.org, which seeks to give access to safe drinking water. (Bloomberg)

He was the face of a cryptocurrency commercial that compared buying Bitcoin to landing on the moon, and the actor has been trending on Twitter ever since as people cringe at the connection. (DailyMail)

Cryptocurrency values have been volatile in recent weeks, rising high and then plummeting just a few days later. Mr. Damon, on the other hand, appeared to downplay volatility in the crypto.com commercial, and some people were skeptical. (DailyMail)

The commercial for Crypto.com, where users can buy NFTs and cryptocurrencies like Bitcoin and Litecoin, was unveiled in the last second of the nearly minute-long clip. (DailyMail)

Non-fungible tokens, or NFTs, are one-of-a-kind pieces of digital artwork sold as part of the Ethereum blockchain, which stores additional information that distinguishes it from a standard cryptocurrency coin. (DailyMail)

People have cringed, laughed, and cried while comparing a one-of-a-kind picture of the Nyan Cat meme to a man on the moon, which sold for roughly $590,000 in an online auction back in February.

Damon’s involvement in a commercial for cryptocurrency exchange Crypto.com, in which he compared the courage required to buy cryptocurrency to that of history’s great explorers and inventors, aired in late October. That was only a few days before Bitcoin hit an all-time high of nearly $69,000. Since then, the cryptocurrency has plunged by half, and it is now trading below $30,000. (Bloomberg)

Matt Damon’s performance was criticized by numerous commentators on social media, and it hasn’t aged well. It came dangerously near to the current market high.

Meanwhile, it’s a safe bet that many of the celebrities who promoted cryptocurrency and its digital-art offshoots aren’t concerned about the new downturn. Many retail investors, such as mom-and-pop traders who trade from home or through apps, are currently underwater. (Bloomberg)

If you had invested $1,000 in Bitcoin when the commercial first aired, it would now be worth around $500. Over the last week, the price of Bitcoin and other cryptocurrencies has plummeted, wiping out nearly $600 billion in market capitalization. (Bloomberg)

The hero of The Bourne Identity isn’t the only one to support cryptocurrency. Many celebrities have expressed support for the asset class, including Kim Kardashian, Stephen Curry, and Neil Patrick Harris.

However, it was Damon’s well-publicized “Fortune Favors the Brave” ad that drew the most attention, stirring debate about the growing relationship between celebrity and virtual currency.

On social media, some critics wondered if Damon felt awful about promoting cryptocurrencies. According to one Twitter user, the crypto crash isn’t humorous because some people may have been badly harmed as a result of following Damon’s lead.

Others speculated that maybe Damon doesn’t feel that bad.

Are the Claims about Matt Damon True?

Yes, Matt Damon has indeed invested with Crypto.com. Damon, who is an investor on the platform, told Bloomberg that he is cautious about where he invests his money and that he will normally “ride or die with the economy” while focusing on his day job of producing and starring in films.

The Journal reported that both Bitcoin and Ethereum, “two of the most popular cryptocurrencies,” reached all-time highs in November, indicating that his prediction was correct. However, as of Friday, those valuations had fallen 58 and 60 percent, respectively, due to a worsening economic outlook and a quick flight of traders.

Now, when the Journal reported that more than $1 trillion in digital money has been lost since November, all eyes are on Damon and other celebrities who encouraged crypto investing, with many online directly targeting him.

As mentioned earlier, Water.org, a global charitable organization co-founded by Damon that provides safe water and sanitation to people in need, recently joined Crypto.com. The corporation gave the foundation a $1 million direct donation and is starting programs to urge more than 10 million people around the world to contribute to the cause.

Final Thoughts

Matt Damon is an American actor who rose to prominence after appearing in and co-writing Good Will Hunting with Ben Affleck in 1997. The production earned the couple an Oscar for best original screenplay. Since then, Damon has been in a number of films, including the popular Ocean’s Eleven series and the Jason Bourne thriller.

While the collapse of bitcoin and other cryptocurrencies is bad news for investors, it’s also bad news for Matt Damon and his image as a dapper gentleman movie star.

The “Martian” actor is getting mocked on Twitter for his now-famous 60-second TV ad encouraging people to invest in Bitcoin that aired during NFL playoff games and the Super Bowl earlier this year.  Damon praised people’s investments in bitcoin as the “next great human endeavor,” noting that the game has changed dramatically since the Wright Brothers pioneered human flight or astronauts landed on the Moon.

According to Forbes, CNBC, and other publications, Bitcoin and other cryptocurrencies collapsed overnight on Thursday, plummeting to levels not seen since the crypto market began to soar in late 2020. In a single day, the crash wiped away $200 billion, and in a month, it wiped off roughly $1 trillion in value.

During such turmoil, Crypto.com evidently believed that people would seek financial guidance from a competent celebrity such as Damon. Essentially, Crypto.com is a company that creates apps to make buying and selling Bitcoin and other cryptocurrencies easier.