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Michael Kern

Michael Kern

Safehaven

Michael Kern is a newswriter and editor at Safehaven.com, Oilprice.com, and a writer at Macro-Investing.com.

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Dennis Rodman Aims To Unite North Korea And The U.S.

Dennis

In waiting to find out if a nuclear war is fated, the entire world has been put at ease by the news that Dennis Rodman will be attending the North Korea summit.

If this news is not enough to fuel confidence about the meeting, the knowledge that the trip itself is being funded by the former NBA star’s marijuana cryptocurrency sponsors @potcoin will hopefully put observers at ease.

Progress may or may not be made in disarming nuclear North Korea at the summit, but the cryptocurrency may get a boost from the wild publicity as yet another celebrity lines to be the face of a digital token and lift it out of obscurity.

“Thanks to my loyal sponsors from @potcoin and my team at @Prince_Mrketing, I will be flying to Singapore for the historical Summit,” Rodman tweeted last week.

And it’s not the first time, either. According to CNBC, Canadian PotCoin has funded Rodman’s other trips to the rogue republic as well.

Trump, Rodman and Kim are all good friends, according to Rodman’s tweet, which included this graphic:

(Click to enlarge)

It’s a trio that inspires an emotionally intelligent path to peace. But perhaps we’ll all be proved wrong and, this time around, peace truly will come about on the back of buffoonery—which, for the Trump-Rodman relationship began when the former kicked the latter off The Apprentice.

Rodman’s news comes at about the same time that Trump shocked anyone who was paying attention by telling the Japanese prime minister that he was fine inviting Kim to the White House in what would be a first-ever invitation for a rogue enemy dictator.

But this now a cryptocurrency story, and the entire world is watching the circus that is the run-up to the North Korea Summit planned for June 12 in Singapore.

Related: Technical Flags Suggest Trouble Ahead For Gold

It’s a magnificent publicity stunt. But will it work?

PotCoin is set up as a cryptocurrency that is used specifically to by marijuana. So far, the Rodman gig is helping.  

POT has a current market capitalization of around $21 million, and today reached a level where it was trading around $0.0975. It’s up 5.87 percent today.

Celebrities haven’t been able to resist the allure of cryptocurrencies and initial coin offerings (ICOs) to the point that the SEC has had to warn people repeatedly that just because a celebrity is endorsing it, doesn’t make it sound.

From Katy Perry’s crypto manicure to Snoop’s Blockchain Week performances, celebrity interest in digital currencies could be seen as a sign of growing acceptance. Except that they shouldn’t be.

From Steven Seagal and DJ Khaled to Paris Hilton and scores of others, celebrities aren’t considering the consequences for the unwitting investor, but Rodman raises the stakes. They all might be playing with fire, but Rodman’s playing with nuclear weapons.

In the meantime, PotCoin, which has played coy over whether it’s actually sponsoring the trip or is just “in talks” with Rodman, is taking full advantage of the marketing opportunity here and suggesting that Rodman is the answer to everyone’s North Korea prayers.

“The PotCoin team as a community has been incredibly supportive of Rodman’s peace mission from the beginning,” Shawn Perez, a PotCoin spokesman, told The Washington Post. “We’re thrilled to see how the political climate has improved between North Koreans and the U.S. since he became involved.”

By Michael Kern for Safehaven.com

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