American YouTuber “Mr Beast” has finally announced a promotion of Bitcoin. The YouTube sensation has partnered up with Coinbase Global Inc to give one person US$100,000 in bitcoin, he announced this week via Twitter.
Mr Beast, also known as Jimmy Donaldson, has 67.8 million followers on his main YouTube channel, also called “Mr Beast”. He is famous for pioneering YouTube videos featuring expensive stunts. Over time, his content has begun to diversify to include donation and challenge videos that reward participants with thousands of dollars.
The channel also features videos of arduous tasks or survival missions and includes simple vlogging videos. Alongside his main channel, Donaldson runs the Mr Beast Gaming and Mr Beast Shorts YouTube channels. There’s also Mr Beast Burger, a delivery-only fast-food restaurant founded in 2020 in partnership with Virtual Dining Concepts LLC. The chain now boasts 900 locations across North America and Europe.
‘Last to Leave Circle Wins $500k’
Coinbase has published the terms of the giveaway, which appears to be relatively simple. This event will not mark the first partnership between the cryptocurrency exchange platform and the YouTuber.
Earlier this week, Coinbase sponsored a Mr Beast video and launched a promotion. The video, called “Last to Leave Circle wins $500k”, explains how to sign up for a Coinbase account and even mentions some cryptocurrencies available for purchase on the trading platform, including Bitcoin, Ethereum and Dogecoin.
As part of the promotion, Coinbase is offering US$10 in free bitcoin for anybody signing up using the Mr Beast promotion. The video currently has over 24 million views.
A Caution to New and Young Investors
As the reach of social media grows ever more, people are urged to be aware of the risk associated with taking advice from social media and so-called “finfluencers”. While social media is a means of getting background information, it is not necessarily a source of sound financial or investment advice.
Crypto News Australia recently reported on the latest pump and dump scandal after Dink Donk, a meme coin promoted by popular YouTuber Logan Paul, crashed 95 percent in two weeks. Though it was claimed not to be a scam and only a funny meme coin, the self-appointed CEO of Dink Donk is still the target of criticism.
The Mr Beast promotion does not appear to be a scam, only a promotion for Coinbase.
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