Long before the NFT craze took hold of every social space (and before Facebook changed its name to identify with the forming metaverse), there were years when Bitcoin sold for less than a dollar. During that early era, the idea was that crypto was ‘dark technology’ that hackers and money launderers used to protect selfish interests and perpetuate crime or a hobby project for expert engineering minds – basically in-game currency for nerds. That narrative has changed. Now, if your work colleague hasn’t already brought up how crypto is the future, then chances are high that you will be hearing this from your neighbor, your friend, or your spouse.
Millions of people have now purchased and are still purchasing crypto tokens, while others even own mining farms. Admittedly, there have been fluctuations in the values of cryptocurrencies worldwide, but this fact has not deterred investors. Notable female public figures, or ‘Queens,’ in this context, have stepped forward to lead the charge for crypto investments despite the apparent financial risks.
The Weird Nature of Crypto
It is a general fact that other assets do not back cryptocurrencies and digital tokens, so they do not possess inherent value. There is hype around them, and the big players and influential ones at the top get richer. For example, it is said that Elon Musk’s tweets affect cryptocurrency prices. Yes, that’s the point. After tweets from the Tesla CEO, the prices of specific cryptos are said to fluctuate depending on the content of his tweets.
This may not happen necessarily because Elon has a direct influence on crypto, but simply because many crypto investors and enthusiasts make decisions based on Elon Musk’s tweets. Take his tweet in May of last year, for example. After Musk indicated that Tesla would no longer accept payments via Bitcoin, the price of Bitcoin flunked by about 15%.
How ‘Queens’ Are Affecting the Crypto Space
Now that you understand where all this is headed, it should not surprise you that ‘Queens,’ like Reece Witherspoon, Gwyneth Paltrow, Paris Hilton, Grimes, and other influential women, are speaking about crypto. There’s even a song about crypto titled ‘Crypto Queen,’ featuring Kaila Love.
In fact, the actual Queen of England has joined the bandwagon to express her interest and acceptance of cryptocurrency. Only recently, Her Majesty received the first open-access blockchain research journal from Doctor Naqvi, the chairman of the British Blockchain Association. After going through the content, which included information on Gender Change, GDPR, and Blockchain technology, the satisfied monarch sent a message back to the chairman expressing her gratitude for receiving the journal.
When you realize that the Queen receives a lot of journals on different topics daily (and some hardly even make it to her desk), then you’ll acknowledge that the fact that she not only read the publication but also sent a reply is a massive boost for crypto and women in crypto.
Reese Witherspoon And Gwyneth Paltrow
Reese Witherspoon, who is famous for her book club and stellar acting career, took to Twitter and penned her thoughts on crypto when she tweeted that all people will have a parallel digital identity in the near future, with avatars, crypto wallets, and digital goods being the norm. Imagine the vast investments that would hit the crypto world after such a message by a popular figurehead.
Witherspoon is not the only female individual who has expressed her enthusiasm for a future where people will own virtual assets. As recently as December 2021, another ‘Queen,’ Gwyneth Paltrow, publicized her partnership with Cash App on Twitter, thereby increasing awareness and participation in crypto worldwide.
Paris Hilton is another female individual who is not shy about stating her affiliation with crypto. She created a 3-piece series called ‘Hummingbird in My Metaverse,’ ‘Iconic Crypto Queen,’ and ‘Legend of Love,’ which sold for over a total of over a million dollars in the NFT space. She also publicly praised the efforts of the NFT community for making art quite democratic and assessable, saying that it inspired her to dream of future projects.
Yet another woman loves crypto and has made a fortune from it: Grimes. The singer has sold 10 NFTs ranging from one-of-a-kind pieces to those with a few thousand copies. Grimes earned almost 6 million dollars in less than 20 minutes, and her ‘Death of the Old’ NFT raked in $389,000.
Women and men of crypto are making sure that the future of digital finance is equitably built and that women are not left out of it. These efforts prove that ‘Queens’ love crypto and intend to solidify their place in the future of crypto, although a 2021 State of U.S. Crypto Report posits that 75% of crypto holders are men.
One woman who is notable for this movement and determined to see that women are not sidelined from cryptocurrency like they were at the old Wall Street is Kinjal Shah. An investor in the Komorebi Collective for women and nonbinary crypto founders, Shah believes there is room for more women in this ever-growing potential-filled market. “If this is the future of finance, I want more women to be sharing a piece of that pie,” were her words as she was talking about the inclusivity of all in this new order.
Ruja Ignatova (The Downside of This Surge)
The name Ruja Ignatova may ring a bell. Popularly known as the ‘Cryptoqueen,’ this woman is the founder of a Ponzi scheme known as OneCoin and is responsible for carrying out “one of the biggest scams in history,” as described by The Times.
She was the story on a BBC podcast in 2019 titled “The Missing Cryptoqueen” which demystified and exposed Ruja’s criminal activities, most notable of which are the multi-level marketing scam and Ignatova’s Ponzi scheme. She is accused of defrauding millions of investors.
There could be a singular case of a greedy woman who amassed wealth by defrauding people, but it is ultimately a downside and a stain to women’s movement in the crypto space. With many successful women pushing the narrative of more inclusiveness for women in crypto and some already creating online spaces where women are to be guided and groomed to be more vocal and present in the space, the story of Dr. Ruja may be an eye-opener and serve as some deterrent for many female crypto enthusiasts.
Historically, men have always dominated tech, finance, and industries. Until recently, even the blockchain and crypto space had more male investors and speakers in panels and in conferences where crypto is discussed. Phrases like ‘tech bros’ and ‘blockchain bros’ are widely dispersed and accepted as the norm. NFTs and virtual gaming traditionally seem to be a male thing. If crypto is supposed to be the future of finance, healthcare, and life as we know it, then women are already a bit disadvantaged.
With several prominent and notable women already leading in the crypto space, more women are joining the movement, learning more about blockchain technology, and becoming investors, analysts, traders, and even CEOs of many crypto companies. More women now hold leadership positions in the crypto world, and if things can go on the way they are, we could reasonably say that crypto may have the power to advance women’s rights worldwide. You know, maybe that’s why ‘Queens’ love crypto.