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In the last few years, using CBD has become increasingly mainstream. The substance has been legalized in many areas and pushed past misconceptions. Companies like Best CBD Oil offer products that consumers use to manage anxiety, fight off insomnia, and even relieve pain.
It’s fascinating how successful CBD is. The question is, how did it overcome its initial obstacles to become what it is today?
Many factors played a role. One of the most prominent (and interesting) is CBD’s connection to crypto investments.
This article will take a look at the relationship between these two seemingly unrelated industries. We discuss their similarities, how they grew to be connected, and how each facilitated the other’s success.
Overcoming Misconceptions
One of the most prominent similarities between CBD and crypto investments? Both industries had to overcome stigma.
There are many common misconceptions surrounding CBD. Some people believe that it is psychoactive and, therefore, causes a high. However, the reality is that it doesn’t contain enough THC to make the user high. It also won’t result in failed drug tests.
Increased awareness has quelled some of these misconceptions, leading users to become interested in trying CBD products. Legalization of the substance has also helped spark interest. It islegal in most states as long as products have a THC content of less than 0.3%. Another important legal development is the 2018 Farm Bill. This bill permits farmers to grow hemp and declassifies CBD extracted from hemp as a Schedule I drug.
Additionally, many people now realize that they don’t have to smoke CBD to reap its benefits. They can take advantage of different CBD-infused products like creams, oils, gummies, drinks, and more.
Cryptocurrency, too, has overcome stigma. When it was first introduced, it was a completely foreign concept. People thought it was just a way for drug dealers and other criminals to do business.
Like with CBD, increased awareness has benefited the cryptocurrency industry. One 2019 survey shows that 81% of Americans are at least familiar with it. People are starting to realize that it is in fact regulated and can be a safe way to spend and invest.
Stressed-Out Crypto Investors
As CBD overcame its obstacles, there was a certain cohort that was always interested in its products. Perhaps not surprisingly, it was crypto investors.
Crypto investors tend to be startups, entrepreneurs, and other professionals that have high-stress lifestyles. Think Silicon Valley. The individuals there are subject to lots of pressure and competition.
The result? They are overworked and plagued by stress. They are constantly looking for ways to manage their stress and better their health.
Like many Americans, these individuals are increasingly distrusting Big Pharma. They are seeking out health and wellness alternatives. Therefore, it makes sense that they are turning to CBD as a natural way to manage anxiety, help with sleep, and more.
A Safe Way to Purchase CBD
When crypto investors turn to CBD to manage their stress, they often purchase it with the cryptocurrency they own. This is because cryptocurrency:
- Allows someone to make payments quickly
- Can bypass transaction fees
- Can offer anonymity (Bitcoin, for instance, lets you operate under pseudonymity. Other forms of currencies can offer higher levels of anonymity.)
- Facilitates safe transactions through regulations
Cannabis-Specific Cryptocurrencies
There are thousands of cryptocurrencies available. Now, types are emerging that are specifically related to the cannabis industry, opening even more opportunities for investors.
Though not obvious at first glance, the connection between CBD and cryptocurrency is undeniable. It will be interesting to see how these two industries continue to complement each other.
