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BusinessMatt Damon crypto commercial: How much you would have...

Matt Damon crypto commercial: How much you would have lost if you invested then

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

Well, Twitter
TWTR,
-9.67%
users do, and many of them are bringing up the viral Crypto.com ad, while prices for cryptocurrency like bitcoin
BTCUSD,
-3.06%
and ether
ETHUSD,
-3.53%
are slumping, and crypto exchange platforms like Coinbase
COIN,
+16.02%
are losing billions in market cap.

See also: Netflix tells employees, ‘You may need to work on titles you perceive to be harmful’

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. 

See also: Coinbase CEO says company has ‘no risk of bankruptcy’

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

Meanwhile, that same $1000 worth of ether would now be worth $477.

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.

See also: Mark Cuban says ‘crypto is going through the lull that the internet went through’

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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