Could Mike Tyson Become The New Face For Bitcoin?

Although bitcoin has taken some major steps toward mainstream adoption over the past year, the cryptocurrency's user base is still largely dominated by tech-savvy individuals who see digital currencies as an important innovation.

However, Bitcoin Direct LLC is looking to change the cryptocurrency's image by making Mike Tyson its poster boy.

Tyson ATM

Tyson, who is famous for his career as a boxer as well as his cameos in the "Hangover" film franchise, announced his plans to back a bitcoin ATM on Twitter last week. The former heavyweight champion is apparently lending his name and face to an ATM that will allow users to covert their cash into bitcoins.

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What's The Connection?

Though Tyson may seem like an unlikely candidate to advertise a bitcoin venture, a statement from his rep said the former boxer is looking forward to being a part of the "bitcoin revolution" and that he sees cryptocurrencies offering an alternative financial service to anyone interested.

The ATM is marketed as a fast way to change dollars into bitcoins; its slogan reads: "Mike Tyson's fastest knock out in the ring was 30 seconds. The Mike Tyson Bitcoin ATM can turn your cash into bitcoin in under 20 seconds."

What's Next?

The ATMs are set to be unveiled in Las Vegas some time in August. The company says the software will have Tyson's branding and will feature the boxer's image. While some analysts are skeptical about the machines, the company is hoping that Tyson's fan base will be drawn into using bitcoin by the ATMs.

Image credit: Eduardo Merille, Flickr