Last Updated: 25 November 2023
Over the last few years, there have been rumors that Richard Branson, a wealthy businessman, has not been so successful just because of Virgin Island, but investment in the cryptocurrency market has also contributed to it. Has he ever made a bitcoin investment?
Sir Richard Charles Branson is a well-known English Business Magnate, philanthropist, and investor. He is famous for founding the Virgin Atlantic Group, which controls over 400 companies in different industries in 1970. Since then, his portfolio has significantly grown to hundreds of global companies. In the last few years, rumors regarding Richard Branson’s public endorsement of Bitcoin along with other decentralized currencies have been circulating. It is being claimed that he has invested a significant amount of his wealth in these markets.
To confirm if this billionaire businessman has actually invested in cryptocurrency trading, we have decided to investigate such claims.
A Few of Richard Branson’s Investments
Richard Branson owns several companies, including wireless communication, airlines, radio stations, health clubs, hotels, financial services businesses, renewable technologies, the nightclub Heaven, a Formula One Team, and a space tourism company. According to Forbes, the estimated net worth of Richard Branson’s wealth was $4 billion.
At the age of 16, Branson founded his first magazine, called Student, which predominantly focused on interviewing celebrities and for the first issue, he approximately sold $8 000 worth of advertising. After leaving school for the promotion of his magazine, he initiated a mail-order record business in 1969. The magazine offices were utilized as its head office in the beginning. At that time, he had a team of 20 employees until he developed ‘Virgin’ as a new business.
According to several reports, Branson has attributed his success to luck, hard work, and speed on several occasions. He has also written many books, citing how his daredevil ideas, willingness to buck norms, originality, and persistence have contributed to his primary successes in life. Branson has also been named “UK’s Dream Boss”.
Has Richard Branson Ever Endorsed Bitcoin?
It is correct that Richard Branson has been very vocal regarding cryptocurrency trading in media. However, his opinions have not always been positive about it. Recently, while speaking about cryptocurrency trading on CNBC, he stated that many scammers are fooling people by using his identity, fame, and false endorsement to acquire credibility for their products, particularly the binary trading market. Branson has even appointed a legal team to deal with the media sources utilizing his name in the scams related to cryptocurrency. Although it has seen that Branson has expressed his opinions about Bitcoin and cryptocurrency associated matters several times, still we are unable to find any evidence confirming that billionaire has either invested in Bitcoin or ever endorsed cryptocurrency as a lucrative profit-making opportunity.
Although he has said that there might be other currencies that may be even better. However, there is a big industry around Bitcoin — People have made lots of fortunes off Bitcoin; some have even lost money. Although is volatile but many people make money from volatility too.
Most of the Billionaire businessman’s loyal followers have noticed that Richard Branson’s comments or opinions are very reserved when it comes to cryptocurrency.
What is the Reason Behind these Rumors from Media Outlets?
Some online platforms have been publishing these stories to educate the public and warn people about scammers. However, there have been various affiliate marketers whose sole motivation has been to aggressively promote the story to profit from the paid ads, clicks, and sign-up commissions that are usual with viral news. On gossip and false news websites, this type of rumours is prevalent.
A millionaire businessman adopting bitcoin or cryptocurrency would instantly receive international recognition and legitimacy. But unfortunately, this is also the reason behind the spread of such fake news stories.
How to Recognize Fake News?
Fake news is not a new phenomenon. But, because of social media, such stories can reach more audience quicker than good old-fashioned viral emails could accomplish over the last few years.
Let us find out how you can confirm if a piece of news or story is fake:
- Check out the source.
- Click on the article to read the details.
- Verify the author and the date.
- Examine the evidence.
- Have a look at the links
There is no indication that Richard Branson has invested in or sponsored Bitcoin or associated trading technologies, according to our investigation. Furthermore, he has never approved any investment in trading technologies, including Bitcoin and other cryptocurrencies and coins.