Dennis Rodman arrived in Singapore for the U.S. North Korea Summit sporting a T-shirt with a huge PotCoin logo on it.
Observers quickly weighed in to say it was a gimmick. However, the former NBA player’s move did bring attention to the token. His arrival wearing that T-shirt quickly went viral.
One thing to point out is his role as a U.S. representative. A State Department spokesman told CNET that Rodman isn't part of the official delegation, saying:
"We have no comment on Dennis Rodman's private travel. He's not a representative of the U.S. government."
Rodman is a spokesperson of sorts for PotCoin. In fact, PotCoin is funding Rodman’s trip to the summit.
Rodman announced he was attending the summit on Twitter.
Reportedly, this is the second time PotCoin is picking up the tab for Rodman’s travel. The first time was for his trip to North Korea in 2017.
Rodman wore a PotCoin T-shirt then, also, and the value of PotCoin spiked. Perhaps PotCoin’s organizers think this trip to this historic summit will cause the value to rise again.
Many question the sincerity of PotCoin, as well they should. One ulterior motive relates to people being able to use its coin to buy marijuana.
We’ve told you about how the cannabis industry is pushing for virtual currencies as alternative payment methods in cannabis-based transactions. The thought is this “will provide the financial glue” because this would solve the sector’s cash problems.
In addition, by tapping the niche for a financial solution in the emerging marijuana sector, cryptocurrencies could expect a windfall profit.
While at this summit, Rodman is supposed to meet with Kim Jong-un. The idea behind sending Rodman is that somehow PotCoin could play a role in the peace process on the Korean Peninsula.
That’s an ambitious plan on PotCoin’s part. This historic summit is thought to be one of the largest and most diplomatic meetings ever. Perhaps it’s not the time to promote crypto.
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