Gwyneth Paltrow promotes bitcoin

Gwyneth Paltrow, Hollywood actress, former wife of Coldplay front man Chris Martin and founder of online site Goop is frequently in the media eye — although it is often a rather critical one. This week she has appeared in the crypto media due toan interview on Goop with Abra exchange operator Bill Barhydt.

Abra is an exchange-wallet hybrid that is mobile-focused and allows the user to buy more than 25 different cryptos. Getting on Goop, which has transformed itself from a lifestyle newsletter to a lifestyle brand is something of a coup, as this is the first time that Paltrow has mentioned bitcoin or cryptocurrency on her site, which has an audience of affluent women.

The Goop audience

CCN suggests that Abra is a good fit with Goop’s readership, because “it is very mobile-focused, user-friendly, and intended for beginners.” Abra also allows users to buy crypto with a credit card and maintain custody of private keys, both of which are quite rare in crypto investment apps.

The interview is in a Q&A format, making it easier for readers to follow the arguments for crypto. For example, Barhydt explains one of the key reasons governments are so attached to fiat currency: “Ultimately, anything has value because people agree that it has value. Government-issued money, such as the US dollar, has value because we all agree that it does, mostly because our government accepts payments of tax debts only in its own money.”

Cryptocurrency will help people buy more consumer goods

He also suggested that cryptocurrency will enable people in developing economies to have greater access to consumer goods when he said: “We believe Bitcoin technology will be used to enable people in developing markets to lease home electronics such as washing machines, refrigerators, televisions, etc. The buyer will simply forward a small amount of Bitcoin every week to the wallet of the seller and this will enable the appliance to function. This is not easily possible with traditional government money, and it is a powerful possibility.”

As CCN points out, the non-crypto media is becoming more active in publishing information about crypto, with this Goop interview being another example. The fact that Gwyneth Paltrow is the active face of this brand will also help to spread the word to a section of the population that may be aware of crypto, but haven’t yet bought into it. How much power Ms Paltrow has to change this will be interesting to observe.