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There’s an Unexpected Silver Lining to J.K. Rowling’s Bitcoin Tirade

There’s an Unexpected Silver Lining to J.K. Rowling’s Bitcoin Tirade

For the longest time, Bitcoin has been branded “magical web cash” by each its critics and proponents.
While this moniker is generally utilized in a joking context, the crypto group obtained an injection of magic final week when J.Okay. Rowling — the billionaire writer behind the young-adult novel collection “Harry Potter” — talked about Bitcoin for the primary time.
Although Rowling first appeared genuinely fascinated about cryptocurrency, her curiosity shortly become trolling as she tried to grapple with the barrage of BTC-related feedback she was receiving.
“People are actually explaining Bitcoin to me, and truthfully, it’s blah blah blah collectibles (My Little Pony?) blah blah blah computer systems (obtained a kind of) blah blah blah crypto (sounds creepy) blah blah blah perceive the danger (I don’t, although.),” Rowling wrote, trolling the cryptocurrency group after they spent hours attempting to persuade her of BTC.
While some noticed this as a blow to crypto in that Rowling made the business look silly and immature, there’s a silver lining to the well-known writer’s foray into Crypto Twitter.
Related Reading: Crypto Tidbits: Bitcoin Halving, Reddit Using Ethereum, JP Morgan Dabbles in Crypto
J.Okay. Rowling’s Bitcoin Tirade Has a Silver Lining
As distinguished Bitcoin commentator and proponent Vijay Boyapati identified, Rowling could not perceive Bitcoin however she “spent the previous few days giving lots of her 14.6 million followers their first publicity to it.”

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This week I'm following @jk_rowling. She professes to not perceive #Bitcoin however she has spent the previous few days giving lots of her 14.6 million followers their first publicity to it. Thank you.https://t.co/Qr0vJJB5Lg
— Vijay Boyapati (@real_vijay) May 18, 2020

Indeed, Rowling’s two-dozen or so tweets on Bitcoin have garnered 1000’s of likes every and equally as many feedback, signaling that a whole lot of 1000’s have been lately uncovered to the cryptocurrency group by the writer alone.
Whether or not Rowling’s followers might be transformed into BTC holders, although, stays to be seen.
The Other Silver Lining
This wasn’t the one silver lining that Rowling’s current interactions with the cryptocurrency group created.
While Elon Musk — the chief government of Tesla and somebody who likes to speak cryptocurrency occasionally — was not tagged in any of Rowling’s Bitcoin tweets, he determined to affix the dialog.
Responding to the writer’s remark that Bitcoin is a complete bunch of “blah blah blah,” Musk replied:
“Pretty a lot, though large foreign money issuance by govt central banks is making Bitcoin Internet cash look strong by comparability.”

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Pretty a lot, though large foreign money issuance by govt central banks is making Bitcoin Internet cash look strong by comparability
— Elon Musk (@elonmusk) May 15, 2020

The legendary billionaire entrepreneur did assert, nonetheless, that he nonetheless solely owns round $2,500 value of the asset.
Though, his remark highlights a bigger narrative forming in funding circles and within the media on crypto: BTCis turning into extra priceless — each intrinsically and really — because of central banks and governments printing trillions of {dollars} in response to the financial impacts of the COVID-19 outbreak.
As hedge fund investor Paul Tudor Jones lately defined:
“Every day that goes by that bitcoin survives, the belief in it’s going to go up… If you are taking money, however, and you consider it from a buying energy standpoint, for those who personal money on the planet right now, your central financial institution has an avowed purpose of depreciating its worth 2% per yr.”
Related Reading: Reddit Just Rolled Out an Ethereum-Based Crypto to Over 20 Million Users
Featured Image from Unsplash

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