If You Invested $100 In Bitcoin When Snoop Dogg Called Crypto A 'Beautiful Industry', Here's How Much You'd Have Now

Renowned hip-hop artist Snoop Dogg in June 2022 talked about the crypto market drawdown, expressing confidence in the industry’s ability to rebound and thrive in the long run.

What Happened: When Snoop was questioned by CNBC about the ongoing crypto market slump, Snoop responded saying, “It’s crypto… You know that, right?” 

He went on to describe the crypto industry as "a beautiful industry". Adding that he "feels like every great industry has a downfall, and there's always a depression in every industry you could look at Alcohol, tobacco, clothing, and food."

Snoop further elaborated that he sees the market crash as a necessary process to cleanse the industry from bad actors. 

“I just feel like this ‘weeded’ out all of the people that weren’t supposed to be in that space and all the people who were abusing the opportunities that were there,” Snoop explained. “Now, it’s going to bring great business, and moving forward the market will have great things to pick and choose from.”

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Why It Matters: For those who heeded Snoop's positive perspective on the crypto industry and invested $100 in Bitcoin (CRYPTO: BTC) on the day he voiced his admiration for the sector, they would have gained profits of 50.27%, totaling $150.27.

Notably, Bitcoin’s price stood at $20,340 when Snoop articulated his admiration for the crypto industry.

Price Action: At the time of writing, BTC was trading at $30,564, down 0.19%, in the last 24 hours, as per data from Benzinga Pro.

Read Next: Bitcoin, Ethereum, Dogecoin Rise Amid Uptick In BTC Wallets To All-Time High: Analyst Says This Is How Long It Will Take For King Crypto’s ‘Big Move’

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