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People Who Took Matt Damon’s Crypto Investment Advice Are Not Liking Them Apples

On October 28, 2021, television audiences around the world were left collectively confused by a vague commercial for a vague cryptocurrency company in which a bunch of vague moments in history were strung together to convince viewers to buy crypto.

No particular reason, benefit or value was presented in the ad. Pardon my French, but the pitch wasn’t much more than, “come on… don’t be a pussy… just buy some crypto.”

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You already know the ad I’m talking about. It’s the Matt Damon “fortune favors the brave” ad for Crypto.com which was unavoidable for a few weeks at the end of 2021.

In the commercial, Matt Damon walks around a fictional “Museum of Bravery” spewing a bunch of word salad phrases to describe “mere mortals” who “embrace the moment” in “moments of truth” as they “peer over the edge.”

Here’s the ad in case you need a refresher:

On October 28, 2021, the day this ad was unleashed, the price of Bitcoin was…

$60,608

Just ten days later, on November 8, the price of Bitcoin hit an all-time high of…

$68,990

As I type this article, the price of Bitcoin is…

$22,354

Let’s imagine a person watching TV in the weeks after this commercial debuted. During those weeks, not only is this person being inundated with this as part of a reported $100 million Crypto.com branding campaign, on November 16 he learns that Crypto.com is paying $700 million to buy the naming rights to the Staples Center.

If this person decided to buy some bitcoin while this promotional blitz was unfolding, as of this writing his investment is down roughly…

67%

Or, as Twitter user @HighyieldHarry put it:

The questions everyone is dying to know are:

a) How much was Matt Damon paid to star in his ad?

and

b) Was he paid in crypto or USD?

Focusing on the second question. If Matt was paid in crypto, at least he is feeling the pain just as much as his “brave” followers. Though, unlike his followers, Matt Damon has a $170 million net worth to cushion a 70% fall in one investment.

If he was actually paid in USD, this situation feels icky. Borderline unethical or immoral. It would mean Matt Damon leveraged his credibility and likability to dare a bunch of regular Joes to buy an extremely risky unregulated imaginary asset that, in my opinion, has no actual value or function.

To quote Matt in “Good Will Hunting,” How do we like them apples? We don’t like them. These apples suck. You sell bad apples, Matt Damon.

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