In a video message to her 10.2 million Instagram followers on Tuesday, Carey said that she is partnering with Gemini to encourage Bitcoin use and support girls of color in their pursuit of STEM degrees — a broad academic category that refers to science, technology, engineering, and mathematics.
In the video, Carey stated that she invests in Bitcoin through Gemini. She also gave her fans a referral code for a free $20 in Bitcoin Cash.
“Did you realize that you don’t have to buy a complete Bitcoin to invest?” She explained, “In fact, you can get them for as little as $5 USD.”
Carey credits Cryptopedia, Gemini’s free education tool, for her understanding of bitcoin investing.
Users who sign up for Gemini through the referral link will donate directly to Black Girls Code, a non-profit that teaches African-American girls about technology.
While early crypto investors were seen as forerunners in investing in Bitcoin before major financial institutions, celebrity endorsements have a substantial impact on a significant portion of the market. 45 percent of cryptocurrency users would want exposure to a cryptocurrency if it was promoted by a celebrity, according to a Morning Consult poll of 2,200 individuals in the United States conducted in September.
In the nascent nonfungible token (NFT) market, which has already garnered billions of dollars in funding this year, celebrities have earned a lot of clouts. Despite the high expectations, Vitalik Buterin, co-founder of Ethereum, believes that celebrities can influence the NFT market in a positive direction.