Remember when Matt Damon told you, “Fortune favors the brave”?
Well, Twitter TWTR, -6.02% users do, and many of them are bringing up the viral Crypto.com ad, while prices for cryptocurrency like bitcoin BTCUSD, -5.06% and ether ETHUSD, -6.06% are slumping, and crypto exchange platforms like Coinbase COIN, -5.67% are losing billions in market cap.
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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.
Matt Damon and his representatives did not respond to MarketWatch’s request for comment on this story.
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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.
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It’s worth noting, however, that 40% of people who own bitcoin are upside down on that investment, according to a recent CNBC report.