As Reese Witherspoon once said two weeks ago, crypto is here to stay. That statement rang true this morning, when I saw the born-rich actress-turned-lifestyle-entrepreneur Gwyneth Paltrow promoting CashApp’s bitcoin gifting service on Instagram for what I imagine was a sizable fee.
With a Christmas tree photo that looks like it may have been taken under some duress, Paltrow joins other celebrities who have made deals with CashApp to promote bitcoin, including Megan Thee Stallion and Aaron Rodgers. I guess this is a thing everyone’s doing now. But does Paltrow need to do it?
In her post, she hinted at a feminist reason for taking on this probably very lucrative sponsorship opportunity. “Participating in the world of cryptocurrency has felt exclusionary, especially I find to women,” she wrote. CashApp, she added, is trying to “democratize who can participate.”
Hm. I guess that’s nice. But I don’t think Paltrow is actually using CashApp to send $25 worth of bitcoin to her girlfriends. Earlier this month, the Goop founder reportedly made an eight-figure investment in the “environmentally friendly” bitcoin mining operation Terawulf, and she didn’t even ask me if I wanted to get involved. Is that democracy?
Admittedly I know more about Gwyneth Paltrow than I do about cryptocurrency, but given the total sum of information I have gathered about this exchange, I rule that Paltrow DOES have enough money and DOES NOT need to be promoting CashApp or bitcoin on Instagram. Just my two cents.