Celebrity Gwyneth Paltrow Supports Bitcoin on Twitter

The actress and businesswoman Gwyneth Paltrow shared on Twitter an article about Bitcoin. This article talks about how to invest in Bitcoin and other virtual currencies. In this way, this is the first time that there is an article mentioning Bitcoin on Goop.com.

Gwyneth Paltrow Promotes Bitcoin

In the article, there is a Q&A with Bill Barhydt who operates the cryptocurrency platform Abra. Paltrow is also in charge of Goop, a lifestyle brand that is followed by several individuals around the world. Abra is a popular exchange and crypto wallet that allows users to purchase virtual currencies.

As mentioned before, this is the first time that Bitcoin is mentioned on Goop. Nevertheless, it seems that this topic is a good fit for Goop readers. Why? Because Abra is a platform that is user-friendly, comfortable to use and intended for beginners in the crypto space. It works and offers similar products as Coinbase. However, Abra allows users to keep custody of their private keys and features over twenty-five different virtual currencies.

In the article, Barhydt talked about Bitcoin and money in general. He said that Bitcoin has value because it is the only way in which people can pay for taxes. Moreover, he mentioned that the US dollar has value because people agree that it has value.

At the same time, he said that Bitcoin has a great future ahead. Using the technology behind it and its functionalities, it would enable people in poorer regions to lease expensive appliances. This is something that can be performed with microtransactions and the implementation of the Lightning Network (LN).

About it, he said:

“Lastly, 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.”

The lightning network is one of the latest implementations that Bitcoin developers are working on. The LN would allow the Bitcoin network to be less congested. Indeed, the LN would be processing millions of transactions per second with very low fees. Once a group of transactions are processed, they are broadcasted to the network. This would avoid long transaction times, congestion and increased fees for a single BTC transaction. As Barhydt mentioned, it will also enable micropayments to be processed through Bitcoin.

The article uploaded by Paltrow shows that there is a growing interest in Bitcoin among the younger population.


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