Snoop Dogg’s Bitcoin Investments
Snoop Dogg has a lot of titles to his name. His journey from rapper to serial investor and venture capitalist is an interesting one. He has investments that span across the board, and these include stakes in tech companies, plant-based food businesses, the stock market, and even cryptocurrencies.
Who Is Snoop Dogg?
Snoop Dogg is an American rapper, artist, media personality, and adventurous businessman. His breakthrough in the music industry was as far back as 1992, after which he rose to be one of the leaders in the rap industry. He has sold over 23 million records in the US and 35 million albums to the worldwide market.
In recent years, however, many of his ventures have been tied to business opportunities and media personality appearances. He is the founder and a general partner of Casa Verde Capital, which is a venture capital focusing on seed investments.
Snoop Dogg Investments
As of 2021, his net worth was $150 million. Snoop Dogg has made considerable investments across industries, and you can learn about a few of the top ones here.
- Snoop Dogg has investments in tech companies such as Robinhood. He bought stock in the company in 2014, long before the company was publicly listed and when the valuation was still at $13 million versus billions today.
- Through his venture capital firm, Snoop Dogg has also invested in over a dozen cannabis-related companies, with products ranging from supplements, digital software for the cannabis supply chain, recruitment, and medical research. These investments could prove to be very lucrative with the growth of the cannabis industry and market, in all its different facets.
- In 2014, he was also an early investor in Reddit when it was still valued at around $500 million. Snoop Dogg was part of a small group of investors who put together $50, million towards one of Reddit’s seed rounds. Since that time, the company’s value has skyrocketed to $6 billion in 2021.
Snoop Dogg’s investment portfolio also includes plant-based food company Outstanding Foods and e-commerce payment solution Klarna, among many others.
There is a growing number of celebrities who are jumping on board with the cryptocurrency market. Many of these, such as Elon Musk, Mark Cuban, and Snoop Dogg are businessmen and serial investors, and this adds a little more weight to their endorsements and opinions about these digital currencies.
Snoop Dogg has openly endorsed Bitcoin, to the effect that he loves it and believes it is here to stay. He does not view it as a fad but has started working on his own non-fungible tokens (NFTs), which make use of blockchain technology. This NFT was released in April 2021, and his debut collection is called ‘A Journey With The Dogg.’
He was among the earliest adaptors to Bitcoin, and as far back as 2013, he was one of the few artists accepting this payment form for their work. His album was going for 0.3BTC, an amount that has shot up in value since then. No one knows exactly how much Bitcoin Snoop got and kept, but there are some views that he could be one of many rap stars who got in early and became Bitcoin millionaires. There are many mixed opinions about this, but what is for certain is that Snoop Dogg has been incredibly supportive of this digital technology for a long time.
In February 2021, Snoop Dogg joined other celebrities who have taken an interest in the memo cryptocurrency Dogecoin. After he tweeted a meme of the dog breed represented by the coin, the price shot up by 55% to set a new all-time high. While Dogecoin may not be one of the most stable coins with the best fundamentals, the interest in it by Snoop Dogg and other notable names has caused it to be one of the fastest-growing coins in some months.
Snoop Dogg is a true businessman with a growing portfolio. His investments involve many industries and causes that he is passionate about, but he also has a good eye for potentially lucrative opportunities in early-stage businesses that are yet to prove themselves but could have massive potential a few years down the line. He has been very outspoken about his belief in cryptocurrencies, and his endorsements and voice on Bitcoin, Dogecoin, and the blockchain, in general, have had an impact on public opinion.
Has Snoop Dogg Traded Bitcoin?
In 2013, musician and entrepreneur Snoop Dogg tweeted his backing of meme cryptocurrency, Dogecoin (DOGE). This sent the cryptocurrency to reach a high of $0.0872. As well as throwing his support for DOGE, Snoop has also shown an interest in cryptocurrency in general, specifically Bitcoin. Snoop reached out to crypto brokers Coinbase and BitPay to help make it possible for people to purchase his album using the crypto Bitcoin as a form of payment.
To date, Snoop Dogg has continued to back DOGE. In April of 2021, Snoop released his NFT, A Journey with the Dogg, via Crypto.com. Additionally, Snoop Dogg has made it publicly aware that he is using 100% cryptocurrency. These highly controversial currencies are more than just a fad but are rather here for the long haul.