People Are Remembering That Matt Damon Crypto Ad After The Recent Bitcoin Crash

If it seemed like a wise idea to ditch normal currency for an untested and unregulated digital realm bound to attract grifters and general instability, perhaps it’s time to think again. Over the last six months, cryptocurrencies — including Bitcoin, the world’s most valuable crypto, which others in the market tend to emulate — have been plummeting. Last November, Bitcoin went for nearly $70,000. On Wednesday, it dipped below $30,000.

As per Bloomberg, the crypto slightly rebounded, peeking over the $30,000 mark. But it’s the latest volatile development in a downward trajectory that’s taken place over the last six months and has revved up in only the last handful of days. As CNN reports:

The world’s most valuable cryptocurrency was down 10% Monday after plunging again over the weekend. Bitcoin prices have now plummeted nearly 20% in the past week. At a price of just below $31,000, bitcoin is more than 50% below its record high of near $69,000 from late last year and at its lowest point since July 2021.

News that the currency once called “digital gold” was now worth over half of what it was at its peak sent shockwaves across those who invest. (Among them is newish mayor of New York City, who famously declared he’d receive his first paycheck in cryptocurrency.) It also made others remember a fun Super Bowl ad starring Matt Damon, in which he dared the “brave” to go crypto.

“History is filled with almosts,” Damon crows in the ad, “with those who almost adventured, who almost achieved, but ultimately for them it proves to be too much.” He then suggests those who go crypto are not unlike others who did the unthinkable: mountaineers, the Wright brothers, astronauts. At one point we see people about to make out in a nightclub.

Others remembered the ad, aired in the midst of Bitcoin’s plumet, as well.

Some used the occasion to reflect on how much those who’ve invested have lost.

And there were jokes.

Of course, crypto has been “dead” before, so it’s likely just a fallow period. Still, news of cryptocurrency’s possible downfall was only made worse upon learning that another digital fad, NFTs, may have been killed in part thanks to, you guessed it, Elon Musk.

(Via Bloomberg and CNN)