Trevor George Smith Jr, professionally known as Busta Rhymes, is contemplating investing in the crypto space. A report unveiled this news earlier today, noting that the rapper asked his 3.8 million Twitter followers if they had invested in crypto. Reportedly, he also asked them to share their opinions on the current performance of the rapidly expanding asset class.
According to the report, the rapper, who has received multiple Grammy Award nominations without a win, got numerous responses, with most of his fans urging him to invest. However, the musician asked which token he should buy into.
One follower suggested that he should invest in the Moonrise token (MOONRISE), claiming that the coin had risen by up to 100x since its debut. Another follower vouched for the FEG token (FEG), saying it is ideal for long-term investments. In response, Busta Rhymes asked what uses cases the tokens had.
Check out @MoonRise_BSC bro. It’s gone up 100x since launch and is at a great entry point rn. Moonshot buyback function will be implemented at 25k holders and were about 1200-1500 away 🚀💫
— Snizzy (@SnizzyOnTheBeat) July 14, 2021
Another fan told him that the crypto market is currently down because institutions are over-leveraged and that a correction might happen soon. This follower also disclosed that he holds BTC, ETH, and DOGE.
When Busta Rhymes asked whether it is a good time to buy crypto, a follower going by the name DoonMoon said yes. However, DoonMoon cautioned that the rapper should only start with BTC if he has zero knowledge in crypto. He then advised Busta Rhymes to read the Bitcoin Standard by Saifedean Ammous and The Price of Tomorrow by Jeff Booth before purchasing more Bitcoin (BTC/USD).
yes, but #bitcoin only if you are starting at zero knowledge…then start reading The Bitcoin Standard by Saifedean Ammous and The Price of Tomorrow by Jeff Booth…then buy a boatload more #bitcoin. Then sell some other assets and buy even more #bitcoin.
— DoonMoon (@DontyMonis) July 14, 2021
Musicians continue embracing the nascent sector
This news comes as big names in the crypto space continue embracing cryptocurrencies. Over the years, figures such as Snoop Dogg, Nas, Soulja Boy, Eminem, Nas, Sia, and Maria Carrey, among others, have interacted with cryptocurrencies in various ways.
Apart from crypto, the music industry has been keen on embracing the non-fungible token space, with names such as Kings of Leon, Tory Lanes, and even relatively new figures such as Lil Pump issuing tokenizing their music.
However, the most notable musician to enter the crypto space is Akon, who seeks to build a $6 billion (£4.33 billion) crypto-themed city in Senegal. Reportedly, this futuristic city will use the Akoin digital currency (AKN), which currently has a capitalization of more than $80 million (£57.75 million).
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