Cryptocurrency has been all the rage as of late. Many celebrities – from rapper Jay-Z to Twitter head Jack Dorsey – have been consistently jumping onboard, and it looks like Jake Paul – a renowned star of the video and content sharing website YouTube – has been in talks to develop his own cryptocurrency with fellow YouTuber Ben Phillips.
Jake Paul Is Clearly a Crypto Fan
In a recent interview, Paul commented that no plans have been fully established yet. He also says that this would not be some generic, run-of-the-mill coin that gets created only to dissolve a few weeks or a few months later. He says he’s looking to have a lasting impact in the crypto space, and whatever currency he chooses to develop would have to work for people in the long term.
It might happen. It might not. It’s a big undertaking. Ben and I have discussed it, but certainly no ‘jakepaulcoin.’ It would have to provide a purpose and be useful. We don’t want to create something just to make money.
Both Paul and Phillips boast more than eight billion views between their videos. In the past, they have worked hard to get the names of certain cryptocurrencies out there. For example, Paul and Phillips have done quite a bit when it comes to promoting Dogecoin. Thanks to their recent praise and attention on social media, the currency – which once started out as a joke – has managed to accumulate an impressive market cap of approximately $10 billion at the time of writing.
Paul believes that crypto is the future of money, saying that getting involved in it was once of the greatest decisions he’s ever made. He mentions:
[Crypto is] the future. I’m speaking with my friends constantly about it. We’re just scratching the surface.
At press time, bitcoin – the world’s number one digital currency by market cap – has surged to a whopping $51,000 per coin, marking a new high for what appears to be an unstoppable asset. The currency has been on fire for the last four months, and it doesn’t look like this momentum is going to die out anytime soon.
Phillips, however, is convinced that Dogecoin is a bigger answer than some might think. Clearly a fan of the virtual asset, he stated in his interview:
[Dogecoin] is a great starting point. There’s clearly interest. There’s some sense behind it. Away from the business side, how do you educate about [cryptocurrency]? Dogecoin is great for the community side. This generation likes fun, viral moments. That’s why you see Dogecoin going crazy. I bought Doge a year ago. Now, Musk is tweeting about it.
Not too long ago, newfound love and respect for Dogecoin was generated on Reddit, which ultimately caused the asset to surge by more than 300 percent.