It’s no secret that influencers affect the crypto community. As we know, influencers affect almost all spheres these days, and the crypto world is no exception. Public figures with large and authoritative (or not) voices in the internet square can shift and change sentiment with a simple sentence and a *send tweet.*

On the off-chance that you haven’t been paying attention at alllllll, I should acknowledge that Elon Musk is the ultimate influencer when it comes to sending his hot takes into the Twitterverse and moving people to action. The battle between SHIB and DOGE is just one example of that. And, if you google “Elon tweets move markets,” you’ll come up with piece after piece about his influence on both the stock market and the crypto markets. So who and how else do influencers affect the crypto community?

1. Mark Cuban and Dogecoin

influencers affect the crypto community elon musk for decentral publishingOne of the rising crypto influencers who has always been a mover and shaker in business is billionaire Mark Cuban. Since he jumped on the crypto bandwagon, he’s become a more and more vocal advocate for adoption and investment. In early 2021, he tweeted that the Dallas Mavericks were the largest DOGE merchant and that it would definitely hit $1. While it hasn’t done that and many believe it never will, the price did jump after his tweet.

2. Bukele buys the dip

Big news hit the market when El Salvador adopted BTC as legal tender in 2021. And of course, there were people vehemently arguing both sides of whether it was brilliant or a disaster. It did seem like a prevailing skepticism of El Salvador President Bukele’s idea pushed some bearish moves in the Bitcoin market. But that didn’t stop Bukele from buying the dip and continuing to hype Bitcoin. Despite the politics of the situation creating complications, El Salvador’s bold move made positive waves in the crypto community’s sentiment.

3. Cardi B and Jack hype BTC

After the last Bitcoin all-time high in November, the price took a tumble to close out the year. In the midst of that, however, Bitcoin adoption and publicity is quite bullish. Cadi B tweeted asking whether crypto would replace the dollar, and former Twitter CEO and BTC maxi Jack Dorsey responded that Bitcoin would. The price had a small bounce in the aftermath, but the bigger way these influencers affect the crypto community is in the fact that more celebrities and brands are talking crypto in general, reaching more eyes and ears.

4. Kim Kardashian pump and dump

influencers affect the crypto community kim k for decentral publishingNot all influencing is for the best, and Kim Kardashian may be learning that the hard way. While increased buzz, advertising, and public conversation does increase adoption, it can also draw empty hype. After doing a paid promotion for EthereumMax, both Kim and Floyd Mayweather are being sued in a class action lawsuit for what is purported to be a pump and dump. When influencers talk, people buy — just be careful what you’re buying.

5. The Fed…a crypto influencer?

influencers affect the crypto community angry man for decentral publishingIt may not be what you think of when you picture a crypto influencer, but the Fed certainly is a player in the game. Whether it’s pumping crypto by reporting staggering inflation numbers, or dumping it by promising interest hikes to tighten up the economy, Jerome Powell and the Fed definitely have some crypto influencer abilities.

Conclusion

There are many, many factors that influence sentiment, trading volume, price, and adoption. But there is no doubt that individuals with a megaphone loud enough to reach lots of ears can certainly become crypto influencers.

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Michael Hearne

Michael Hearne is the CEO of Decentral Publishing and the host of the Uncensored Crypto docuseries.