Mike Tyson, Backs Bitcoin Revolution

Mike Tyson, Backs Bitcoin Revolution

Bitcoin has revolutionized many aspects of the world. From banking and loans to entertainment to smartphones, it has decentralized almost all the industries. The boom of the bitcoin revolution is evident because famous personalities and celebrities are now becoming a part of it. A famous celebrity such as Mike Tyson is also becoming a part of this revolution.

Mike Tyson launches a cryptocurrency ATM:

As reported by Coindesk which is a popular cryptocurrency related news website, Mike Tyson has admitted that he is grateful for being a part of the bitcoin revolution. For those who do not know who is Mike Tyson, he is an ex-world champion in heavy weight lifting. He has launched a bitcoin ATM recently in Las Vegas and is promoting this cryptocurrency.

This ATM Machine has been launched in the “Off the Strip” restaurant. It is a Lamassu machine and it is considered to be the “George Foreman grill” of Tyson. It is a way in which bitcoin would enter into a normal lifestyle just like other currencies. It aims to give a physical medium to this decentralized digital currency.

There have been many cases where celebrities have faced legal issues because of branding or promoting cryptocurrencies. This is because SEC bans people for promoting anything on social media for money. Celebrities such as Mt Gox and Silk Road have faced issues because of branding crypto tokens but Tyson disagrees to it completely. He mentions that the issue is not at all about branding; it is about education about bitcoins.

He says that people still need a physical form of money to understand. They cannot relate to a digital currency which is completely based on numerical equations. Even he is not pretty clear to its working. But still, he is becoming a part of this revolution with a view that his participation and involvement in the crypto industry would lead to more information that will increase his awareness and knowledge eventually.

He says that he is not at all a bitcoin guru and he is into this business because it seems to be an interesting field which has lots of possibilities. This attracts him to the bitcoin revolution.

Revolution in the bitcoin industry:

There is a revolution in the bitcoin industry as now the ATM machine launched by Mike can convert cash into bitcoin a lot faster. This is faster as compared to the knockout record of the famous boxer. There are six other such machines in the Sin City and the bitcoin lovers are planning to launch 100 more machines.

BitcoinDirect, the owner of this machine would share profits by an even split between the company and Tyson. This was confirmed by the CEO of the company, Peter Klamka. The company is sharing profits with him because he is a universally known boxer and famous celebrity. He has a fan base across several nations and the company looks to capture market-based on his popularity. Mike is popular amongst people of all ages and so if he is promoting a product or token it would reach out to millions of users.

This partnership was announced earlier in the month of July. Tyson already had knowledge about cryptocurrency even before meeting Klamka. He was excited about this system as it seemed to be an option beyond the typical banking system and he considers these options to be a principle of democracy. This is for people that are excluded from the system of banking or others who do not want or feel that they must have a bank account. In spite of promoting a bitcoin ATM, he has not swapped his own money for crypto yet. He does not encourage others to do so too.