Cryptocurrencies have always struggled with the question of legitimacy and recognition, questions that have posed hurdles to their wider adoption in the day to day businesses. However, Litecoin [LTC] seems to be taking giant steps towards the latter. UFC fighter Ben Askren’s recent PSA about Litecoin is just another example of that.
The world of UFC however, is not new to Litecoin, the silver to Bitcoin’s gold. Litecoin was one of the sponsors for the UFC 232 event last month during which LTC’s logo was displayed on the canvas of the UFC octagon. In fact, Google trends suggested that searches for Litecoin had reached a peak following the announcement, another cap in the effort to make cryptocurrencies such as Litecoin more visible to the masses.
Ben Askren’s PSA is a continuation of that. In a video he posted on Twitter, the former ONE Welterweight champion Askren reiterated his confidence in cryptocurrencies and their utility. Askren also called out banks and the high transaction costs they impose on people for every transaction, while recalling an incident that involved him trying to pay someone for their website development services. Denouncing how outdated payment by cheque was, Askren went on to talk about cryptocurrency, particularly Litecoin.
PSA on cryptos/LTC https://t.co/N34c40dDLR
— Ben Askren (@Benaskren) January 31, 2019
Noting the negligible transaction costs associated with every LTC transaction and the corresponding speed, Ben Askren goes on to say that for any small business owner, who wishes to save money for their business and its future investments, ‘the choice is obvious.’ Askren also suggested that cryptocurrencies such as Litecoin will be more widely adopted and its volatility controlled within the year.
This isn’t the first time Askren has openly promoted Litecoin however. He had posted a similar video when the sponsorship deal between LTC and UFC for UFC 235 was announced. Askren had then claimed to support the ’cause of LTC,’ while also holding several LTCs himself.
Whatever the future market of LTC may be, it would seem that the coin has compensated for the slump it and other cryptocurrencies faced since 2018 by tying itself to high profile engagements such as the UFC. As Google Trends suggested, each such engagement will go a long way in contributing to the coin’s visibility and future adoption.