Why Iron Man’s Gwyneth Paltrow Wants To Offer You $ 500,000 In Bitcoin

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Oscar-winning actress Gwyneth Paltrow will embrace the holidays with Bitcoin. Via his official Twitter account, Paltrow announcement a partnership with Cash App, the platform owned by the former Square company renamed Block, allows US users to buy BTC and their friends and family.

Related reading | Bitcoin Cash App Revenue Grows 200% In Q2 As Demand Grows

Paltrow says she wants to help make Bitcoin easier for people to acquire. Therefore, its partnership with Cash App will aim to “democratize” people’s participation in the Bitcoin market.

The actress known for her role in Iron Man and other episodes of the MCU universe will be donating $ 500,000 in Bitcoin or around 10 BTC for the holiday season. To participate, users just need to follow the Cash App Twitter account and post their cashtag with a comment to earn the reward.

People can also enter the contest by posting their cashtag on Instagram. The award will be split into multiple winners and sent through the app. The contest will end on January 14e, according to the announcement made by Paltrow.

Cash App recently rolled out a giveaway feature that allows users to send Bitcoin and stocks to anyone they know. To receive the gift, the sender does not need to hold funds in BTC or stocks and is “as easy as sending money”.

Why Bitcoin is here to stay according to Gwyneth Paltrow

In an interview for Elle magazine, Paltrow explained that she first heard about Bitcoin and cryptocurrencies on a TV show made for Apple TV. The actress noticed a lack of participation of women in the industry and decided to form a “tutorial call”.

These meetings allowed Paltrow to understand Bitcoin, blockchain technology and the platforms based on it, and “the various tokens and NFTs”. As a result, the actress became an investor in a BTC mining company with a “sustainable” approach called Terawulf. Paltrow told the magazine:

(I got) really interested in space in a number of ways and tried to bring everyone (in), but (mostly) women too, because when I started talking about it with my friends , they did not feel empowered to ask the questions or to understand. We all learn at the same time, basically.

Speaking about her campaign with Cash App to make Bitcoin more “accessible” and to emphasize that people don’t need technical skills to own BTC, Paltrow stressed that she wants to reach her followers. Once participants get to know the platform, the actress believes they could get into the crypto market. She added the following:

I’m really working to bring more women, not just into the conversation, but onto the capitalization tables of these Web3 companies. I think it’s such a great way to create this cultural conversation around ‘what am I doing with Bitcoin? And I hope that starts a deeper conversation.

Going forward, Paltrow might consider launching a DAO for its subscribers, but says it is only “thinking” about it for now. Additionally, the Academy Award winner hinted at the possibility of opening a store in the Metaverse although she did not refer to a specific project. She concluded:

I can’t imagine a future without cryptocurrency. It doesn’t mean that you have to invest in anything personally. It’s good if you get it; if you win you get some free bitcoin to play, but we should all be able to read and write.

Related reading | The biggest risk for Bitcoin? How quantum computers could harm BTC

As of going to press, BTC is trading at $ 47,100 with a sideways move in the last day.

BTC on a downtrend on the 4 hour chart. Source: BTCUSD Tradingview



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