Snoop Dogg Still Thinks Crypto Prices are Going to Recover Soon

Snoop Dogg still thinks that cryptocurrency prices are going to bounce back soon, even amid the "crypto winter."

The iconic rapper remains bullish on the crypto industry even at a time when the price of the most-valued digital currency, Bitcoin, falls below the $19,000 once again.

It is worth noting that its all-time-high skyrockets roughly above $64,000. But it is far from that these days after the massive sell-off from its investors.

Snoop Dogg and Crypto

As per a news story by CNBC, the rap star, no less than Snoop Dogg, is one of the celebrity faces in the world of Web3, and he entered the latest craze early on before it got the hype.

As such, the rapper is heavily involved in NFTs, and despite their crashing prices, he remains bullish on crypto.

Dogg thinks of the current "crypto winter" as the downfall of other established industries, such as food and clothing. The rapper says, "I feel like every great industry has a downfall."

He further points out that "there's been a depression in every industry you can look at alcohol, tobacco, clothing, food; every industry you can imagine."

And for the rap star, the whole "crypto winter" has a silver lining after all. He says that it has gotten rid of the bad apples, according to a recent report by Bitcoin News.

The recording artist puts it in his perspective: It "weeded out all the people who weren't supposed to be in the space and who were abusing the opportunities that were there."

Dogg now thinks that with the bandwagoners out of the way, the crypto industry is about to bounce back stronger than before.

Snoop Dogg on NFTs

Apart from speaking on the crypto industry, the hip-hop artist also voices out his hot takes on NFTs.

Dogg predicts that the music industry is going to embrace NFTs, as "sooner or later" even the music labels are joining the latest craze.

The rapper said in an interview with CNBC that artists and music labels would potentially talk about how to bring their tunes to the blockchain.

He says they will soon realize that their music is better to also be available on the blockchain rather than in the catalogs.

On top of the music industry, the son of the iconic rap artist Cordell Broadus, or Champ Medici, also says that other industries are embracing Web3 as well, including film studios and big tech giants.

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Written by Teejay Boris