Opinion: Socialite Gwyneth Paltrow's Cryptocurrency Explainer is Good News

Opinion: Socialite Gwyneth Paltrow's Cryptocurrency Explainer is Good News

Omar Faridi
The views and opinions expressed in this article are solely the personal opinion of the author and do not reflect the official policy or position of Crypto Globe. The author has not received any remuneration for this commentary. The author holds no position in any of the tokens discussed.
  • Gwyneth Paltrow's recent explainer about cryptocurrencies on her Goop website is a positive sign for the blockchain ecosystem.
  • Paltrow is known for making questionable claims about health and beauty products, however, the post about cryptosis a good intro.

Gwnyeth Paltrow, a Primetime Emmy Award winning actress, prominent businesswoman, singer, and lifesytle guru, recently published an article about cryptocurrencies on her popular Goop website.

Soon after people began leaving positive and encouraging comments on Twitter about the comprehensive article - which arguably serves as a pretty good explainer - some starting pointing out the article "read like an ad" and claiming that's what it was.

Protecting Against "Psychic Attack And Emotional Arm"

Some have also noted that Gwyneth Paltrow’s lifestyle and wellness related website, Goop, had been accused by the UK’s Good Thinking Society, a non-profit organization that “campaigns against pseudoscience”, of false advertising.

Indeed, Paltrow has been backing some highly questionable products, one of them being some sort of exotic spray reportedly made from “a complex blend of essential oils and gem elixirs” - as described by the Observer.

The spray supposedly helps clear away “undesirable energy” while protecting the user from “psychic attack and emotional harm” - as the “aura” is “sprayed.” Commenting on the these seemingly misleading claims, the Good Thinking Society says there is no evidence that the “product is effective to repel vampires (in any literal or metaphorical sense of the word) or to protect from ‘psychic attack’ (in any sense).”

Celbrities Have Made Questionable Claims About Crypto

Although celebrities, including Paltrow, are known to make highly contentious claims, such as the DJ Khaled and Floyd Mayweather backed Centra crypto debit card project, the recent blog post on Goop about digital currencies is more likely to lead to positive consequences, instead of negative.

There is no “shameless” advertising in the blog post, and it serves as a helpful introduction to cryptocurrencies for those who may still be “watching from the sidelines.”

The article, which is basically a Q&A session with Bill Barhydt, the founder and CEO of Abra, reads in part: 

Abra is an app that allows users to invest in thirty different cryptocurrencies, including Bitcoin, Ether, and fifty world currencies such as US dollars, euros, Chinese yuan, etc. We are a cryptocurrency wallet that lives on the Bitcoin blockchain, which means that it is really secure. Abra users control their private key to the wallet, meaning Abra cannot access or confiscate users’ funds, ever.

Promotional Words Don't Mean We Shouldn't Do Research

Notably, when people as influential as Gwyneth Paltrow - who has over 2.8 million followers on Twitter (more than any crypto or blockchain influencer) - are taking the initiative to publish in-depth explainers about crypto, it is definitely a good sign for the nascent sector.

There may be some promotional words being used in the article such as Abra’s “novel synthetic currency technology” which is used ”to peg values to whatever asset [their] investors want.”

However, the Goop article undoubtedly helps draw attention to crypto as Paltrow shared it with millions of her followers. It should not be taken as financial advice, and anyone looking to invest in any project, whether it is crypto-related or not, should do their own research