Here’s how much money you would’ve lost if you bought crypto during Matt Damon’s ‘Fortune Favors the Brave’ commercial

The Matt Damon ‘Fortune Favors the Brave’ commercial has been viewed over 28 million times on Twitter and YouTube

Remember when Matt Damon told you, “Fortune favors the brave”?

Well, Twitter TWTR, -2.19% users do, and many of them are bringing up the viral Crypto.com ad, while prices for cryptocurrency like bitcoin BTCUSD, 2.60% and ether ETHUSD, 4.01% are slumping, and crypto exchange platforms like Coinbase COIN, +8.90% are losing billions in market cap.

The commercial, which debuted on October 28, 2021 and was replayed again during the Super Bowl, has now been viewed 9 million times on Twitter and over 17 million times on YouTube.

“I’ve never done an endorsement like this,” Damon, who is also a Crypto.com investor, said when the commercial debuted. He also told Bloomberg that he’s ready to “ride or die with the economy” — but he’s also not quitting his day job making movies.

Unfortunately, if you had purchased $1000 worth of bitcoin when the commercial debuted, your crypto value would be about $481 today.

Obviously, the commercial likely had little to no impact on the crypto markets, and October represents an arbitrary starting point for any crypto-related price charting as prices for bitcoin and ether have more than tripled over the last 24 months.

It’s worth noting, however, that 40% of people who own bitcoin are upside down on that investment, according to a recent CNBC report.

Bitcoin prices moved 5.2% higher on Thursday, rebounding from a tumultuous week. Ether prices were down 1.09% during Thursday’s trading.

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TechGuy

TechGuy

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