Popular American television show host Ellen DeGeneres recently decided to weigh in on the cryptocurrency space, and explained to her 3 million viewers what bitcoin is. In her explanation, the celebrity likened bitcoin to a picture of a baby goat, as both “don’t exist except on that internet.”
During the few minutes in which DeGeneres addressed the cryptocurrency, she spoke about some of the cryptocurrency’s characteristics, including its decentralized nature and volatility. She initially asked her audience members to applaud if they had heard about bitcoin. Then, asked them if they could explain what bitcoin is.
DeGeneres then offered her own take on the cryptocurrency, humorously arguing nobody really knows. Per her own words, “everybody’s talking about bitcoin, nobody understands it.” She compared the situation to that of a plot twist in a confusing movie.
If you want to know what bitcoin is, I learned about it. A bit. pic.twitter.com/txICiTXYgi
— Ellen DeGeneres (@TheEllenShow) February 15, 2018
Ellen then likened the cryptocurrency to the picture of a baby goat, as they were both only digital. She further stated bitcoins are held in a digital wallet that can be an app one a person’s smartphone, and briefly mentioned hardware wallets. Joking, she said “who wouldn’t feel safe with their life savings on a piece of plastic that could go into the washing machine?”
Addressing bitcoin’s recent dip, that saw its value drop from nearly $20,000 to roughly $6,000 in a month and a half, she said that “all I know is bitcoin is either worth $20,000 or nothing.” DeGeneres correctly pointed out it works “sort of like the stock market,” as the cryptocurrency’s value can easily rise or fall. Finishing her segment on bitcoin, the TV host stated:
“Say you own one bitcoin and you bought it when it was worth $10,000 – and then for some reason bitcoin becomes worth $20,000 – you just doubled your money. Personally I’d rather own a baby goat.”
On Reddit, most users seemingly appreciated the segment. Given Ellen’s 3 million viewers, and nearly 77 million Twitter followers, some pointed out bitcoin’s adoption is set to increase because of the free publicity. One user even commented “the bull cometh.”
Another Reddit user going by “solidad” pointed out that a lot of people didn’t know what bitcoin was, and will now look at it seriously. In turn, this will “probably help get more fresh money into crypto as a whole.