Have you seen the commercial for Crypto.com?
Actor Matt Damon walks through a sort of virtual museum, making solemn observations as we watch human beings striving to do great things – conquer flight, explore space, and climb formidable mountains.
He then does something your old high school history teacher never bothered to do. He sums up the lesson of human history. (The good stuff anyway.)
Since the time of the Romans, he says, the intrepid have calmed their minds and steeled their nerves with four simple words: “Fortune Favors the Brave.”
The commercial ends with the name of the sponsor, Crypto.com.
Crypto.com provides an app to buy, sell, and use cryptocurrencies such as Bitcoin. Many of these have shot to the moon, untethered by any sense of value.
Matt Should Know
Every time I’ve seen this spot, it’s been during a football game. Sports betting services have become big advertisers in recent years. Crypto.com has a strong appeal for the same audience. Risk a few bucks, and who knows? You might get lucky.
It’s also good casting to have Matt Damon as the star of the commercial. He played a genius in Good Will Hunting and a man up for any challenge in the Bourne movie series. For unthinking financial advice, this is hard to beat.
All You Can Lose Is Everything
Fortune is a funny thing. It may favor the Brave, but it seems to like a little intelligence, too. At least in the long run.
Is it really likely that governments around the world will stand by while their taxing and regulatory power is undermined by cryptocurrency?
At some point, a trader may decide that the bravest act will be to break with the crypto crowd and sell.
Barry Dunaway, CFA®
America First Investment Advisors, LLC
This post expresses the views of the author as of the date of publication. America First Investment Advisors has no obligation to update the information in it. Be aware that past performance is no indication of future performance, and that wherever there is the potential for profit there is also the possibility of loss.