Gwyneth Paltrow’s Goop Endorses Crypto Investments

Gwyneth Paltrow’s Goop blog has presented to its readers the opportunities of the crypto world with Abra’s Bill Barhydt.

Goop, the lifestyle and wellness blog run by Hollywood actress Gwyneth Paltrow, has chosen a strange product to promote. Through a lengthy interview with Abra CEO Bill Barhydt, the portal offers a basic introduction to the crypto space and lightly endorses crypto investments.

Abra is one of the most popular crypto investment apps for mobile users. The coins and tokens are “parked” within a smart contract, and in-app transfers are not secured on the blockchain. Abra is used for trading and allows deposits and withdrawals for a relatively large portfolio of crypto assets.

“The first investment that a newcomer to the crypto space should make is time. It’s important to understand some of the basics about how these different cryptocurrencies work. The information landscape in crypto is getting a little easier to navigate, and people are putting a lot of time and energy into trying to make cryptocurrency more accessible. Buy $10 worth of Bitcoin and get comfortable with the process,” Barhydt suggested to Goop readers.

While crypto assets have already infiltrated mainstream media, especially after attempts to create a Bitcoin ETF, the Goop article shows yet another vector. However, the suggestion is again to rely on the future appreciation of digital assets.

The piece on Goop also arrives at a time of subdued enthusiasm for crypto. The interview mentions initial coin offerings (ICOs) without going deep into the matter. But ICOs are among the crypto trends that might have died in 2018. Funds raised using the token crowdsale model have frozen up, dropping precipitously since August.

While Bitcoin prices have managed to remain stable at around $6,400, this is mostly due to low trading activity. As for altcoins, each seems to be going its separate way, based on factors such as liquidity, availability on exchanges, and the honesty of the team. Speculation and the availability of trading pairs also affects a coin’s market price.


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Author:Christine Masters 
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